21 Jan , 2022 By : monika singh
NEW DELHI: Shares of Havells NSE -4.32 % India shed 2 per cent in early trade Friday as the consumer electrical goods maker reported a decline of 12.7 per cent in its consolidated net profit to Rs 305.82 crore for the third quarter ended December 2021. The company had posted a consolidated net profit of Rs 350.14 crore in the October-December quarter a year ago.
The scrip touched a low of Rs 1,282.10 as against the previous close of Rs 1,310.30 on the National Stock Exchange.
The company’s sales rose 15.40 per cent to Rs 3,664.21 crore in the quarter ended December 2021 as against Rs 3,175.20 crore during the previous quarter ended December 2020, reports said.
Reports quoted the company as saying that the revenue from operations gained 15.4 per cent at Rs 3,664.21 crore during the period as against Rs 3,175.20 crore in the corresponding period last fiscal.
"Festive demand was encouraging. The last few weeks have seen the return of Covid-led anxiety in the demand markets but it seems that recovery could be swift. We remain positive on demand resilience," Havells India Chairman and Managing Director Anil Rai Gupta was quoted as saying in reports.
According to reports, the company reported total segment revenue of Rs 3,652.25 crore, led by its cables segment, which accounted for Rs 1,205.43 crore.
At Re 1 each, the company reported earnings per share of Rs 4.88 crore (both basic and diluted), while its paid up equity share capital stood steady at Rs 62.63 crore, reports said.
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