Haier

Havells Q1 net profit down 64% to Rs64cr

Consumer durables firm Havells posted a 63.9% year-on-year (YoY) decline in June quarter (Q1) consolidated net profit to Rs63.98cr. Havells’ EBIDTA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) for Q1FY21 stood at Rs131cr, showing a 52.8% YoY decline. Revenue for the first quarter was down 45.4% YoY to Rs1,483.40cr as business contracted across segments like switchgears, cables, electrical consumer durables, Lloyd Consumer and lighting/fixtures.-India Info Line

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