Havells India on Wednesday reported a 7.2 per cent year-on-year decline in July-September net profit at Rs 301.6 crore. The company's net profit stood at Rs 325 crore.
The company's revenue for the quarter stood at Rs 3,221 crore, recording a growth of 31.4 per cent, while EBITDA stood at Rs 443.5 crore as against Rs 423 crore a year ago. However, margin contracted by 350 basis points to 13.8 per cent from 17.3 per cent in Q2 FY21.
"The company has assessed the impact of the continuing Covid-19 pandemic on its current and future operations, liquidity position and cash flow giving due consideration to the internal and external factors. The company is continuously monitoring the situation and does not foresee any significant impact on its operations and the financial position as at September 30, 2021," Havells India said in a release to the stock exchanges.
Anil Rai Gupta, Chairman and Managing Director, Havells India Limited, said, "We are enthused with healthy revenue growth across business verticals. Increase in commodity cost remains unabated creating margin headwinds. However, our outlook on demand remains fairly positive."
The company's total expenses for the quarter stood at Rs 2,850.85 crore as compared with Rs 2,107.44 during the same period last year. The profit before tax was reported at Rs 403.45 crore in Q2 FY22 as against Rs 423.55 crore in Q2 FY21.
The company's board also declared an interim dividend of Rs 3 per equity share. Shares of Havells India closed lower by Rs 15.80 or 1.11 per cent at Rs 1,408 on the NSE.
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