Havells shares zoom over 7 per cent as Q1 net profit jumps

NEW DELHI: Shares of consumer electrical goods maker Havells India Ltd on Thursday gained over 7 per cent after the company reported a nearly four-fold jump in its consolidated net profit for the first quarter ended June 2021.

The stock jumped 7.30 per cent to Rs 1,184 on the BSE.At the NSE, it gained 7.29 per cent to Rs 1,184. Havells India Ltd on Wednesday reported a nearly four-fold jump in its consolidated net profit to Rs 235.78 crore for the first quarter ended June 2021, driven by "resilient" demand post easing of COVID restrictions.

The company had posted a consolidated net profit of Rs 63.98 crore in the April-June quarter a year ago, Havells said in a regulatory filing. Its revenue from operations was up 75.95 per cent at Rs 2,609.97 crore during the period under review, as against Rs 1,483.40 crore a year ago.

Havells India Chairman and Managing Director Anil Rai Gupta said, "Despite a truncated quarter, overall performance has been encouraging across segments. The demand has been resilient, and we expect further improvement as COVID restrictions are progressively lifted."