Consumer electrical goods maker Havells India Ltd on Thursday (October 19) reported a 33.2 percent year-on-year (YoY) jump in net profit at ₹249.1 crore for the second quarter that ended September 30, 2023. In the corresponding quarter last year, Havells India posted a net profit of ₹187 crore, the company said in a regulatory filing. A CNBC-TV18 poll had estimated the firm to post a net profit of ₹289 crore in the September quarter.

Havell India's total revenue stood at ₹3,900.3 crore during the period under review, up 6% against ₹ 3,680 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had estimated revenue of ₹4,226 crore for the quarter under review.

Also Read: Goldman Sachs downgrades diagnostics companies on rising competition

At the operating level, EBITDA jumped 30.2 percent to ₹373.3 crore in the second quarter of this fiscal over ₹287 crore in the corresponding period in the previous fiscal. The CNBC-TV18 poll had predicted EBITDA of ₹419 crore for the quarter under review.

EBITDA margin stood at 9.6 percent in the reporting quarter as compared to 7.8 percent in the corresponding period in the previous fiscal. The CNBC-TV18 poll had predicted an EBITDA margin of 10% for the quarter under review.

EBITDA is earnings before interest, tax, depreciation, and amortisation.

The results came after the close of the market hours. Shares of Havells India Ltd ended at ₹1,352.50, up by ₹12.50, or 0.93 percent on the BSE.

(Edited by : Ajay Vaishnav)