Havells India fell 2.97 per cent to Rs 1,211.30 after the company reported a 38 per cent decline in consolidated net profit to Rs 186.87 crore despite of 14 per cent rise in net sales to Rs 3,668.94 crore in the second quarter of FY23 over the second quarter of FY22.

PBT stood at Rs 251.49 crore in the second quarter of FY23, down 38 per cent from Rs 403.45 crore posted in the second quarter of FY23. Total expenses spiked 21.4 per cent to Rs 3,460.78 crore in the second quarter of FY23 over the second quarter of FY22.

 EBITDA slipped by 35 per cent to Rs 287 crore in the second quarter of FY23 from Rs 444 crore reported in Q2FY22. EBITDA margin de-grew to 7.8 per cent in the first quarter of  FY23 from 13.7 per cent posted in the second quarter of FY22.

Meanwhile, Electrical consumer durables (ECD) revenue was up 6.2 per cent to Rs 774 crore in the second quarter of FY23 from Rs 728 crore reported in the same quarter of last year. Revenue from Lloyd increased by 21.4 per cent year on year to Rs 414 crore in the second quarter of FY23 compared to Rs 341 crore recorded in the second quarter of  FY22. 

The net profit of Havells India slipped 38.2 per cent to Rs 187.01 crore despite a 13.6 per cent increase in net sales to Rs 3,679.49 crore in the second quarter of FY23 over the second quarter of FY22. This company is a leading fast-moving electrical good (FMEG) and the largest power distribution equipment, manufacturer.