Havells India Ltd. saw its stock jumped as much as 5% on Wednesday, April 22, in response to its March quarter results, that were better than analyst expectations on the operating front, even as they were lower on a year-on-year basis.Havells India’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 4.5% from the same quarter last year to ₹727 crore. A CNBC-TV18 poll had pegged the figure at ₹691 crore.
EBITDA margin for the quarter stood at 10.8%, 90 basis points lower than the 11.7% figure reported during the same quarter last year. The margin figure too, despite being lower than last year, was better than analyst expectations.
Shares of Havells India are trading 4.8% higher after the results announcement at ₹1,391.8. The stock has risen 13% over the last one month.This is breaking news and will be updated with more.
