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News In Brief Business and Economy

Havells India Shares Fall 9% In Post Quarter Results

News In Brief Business and Economy

Havells India Shares Fall 9% In Post Quarter Results

havells-india-shares-fall-nine-percent-in-post-quarter-results

News Synopsis

Shares of Havells India have seen a fall by 9 percent on Thursday. This fall is noticed after a fall in the net profit in the second quarter. Havells India also reported a fall of 7.34 percent in consolidated net profit to 302.39 crores for the end of the second quarter on September 30, 2021.  The net profit saw a fall as compared to the net profit of the previous year which was 326.36 crores.

The revenues from the operations rose from 2,459.49 crores to 3,238.04 crores in 2021. The total expenses of the company were at 2,866.54 crores which shows a rise of 35.60% from the expenses of last year. 

Havells has a reputation for its quality products in the market and this fall in the share price or the net worth can be an outcome of lockdown and the pandemic as the ongoing situations have affected a lot of businesses in a harsh way, taking them to face a loss.

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