Havells beats estimates to post 24% rise in Q4 net profit, declares dividend of ₹6
Summary
The board recommended a final dividend of ₹6 per equity share of ₹1 each, amounting to 600% of the face value, for the financial year 2023-24. Shares of Havells India Ltd ended at ₹1,661.55, up by ₹16.55, or 1.01%, on the BSE.
Consumer electrical goods maker Havells India Ltd on Tuesday (April 30) reported a 24.1% year-on-year (YoY) jump in net profit at ₹448.9 crore for the fourth quarter that ended March 31, 2024.
In the corresponding quarter, Havells India posted a net profit of ₹362 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹374 crore for the quarter under review.
The company’s revenue from operations increased 12.1% to ₹5,434.3 crore against ₹4,850 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted revenue of ₹5,380 crore for the quarter under review.
At the operating level, EBITDA rose 20% to ₹636.8 crore in the fourth quarter of this fiscal over ₹531 crore in the year-ago period. CNBC-TV18 poll had predicted an EBITDA of ₹554 crore for the quarter under review.
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The EBITDA margin stood at 11.7% in the reporting quarter compared to 10.9% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 poll had predicted a margin of 10.3% for the quarter under review.
The board recommended a final dividend of ₹6 per equity share of ₹1 each, amounting to 600% of the face value, for the financial year 2023-24. This is in addition to the interim dividend declared during the FY 2023-24 for an amount of ₹3 per share.
The final dividend, if approved by the shareholders in the forthcoming annual general meeting (AGM) of the company, shall be paid/dispatched to the shareholders 30 days from the date of the AGM or before that.
The results came after the close of the market hours. Shares of Havells India Ltd ended at ₹1,661.55, up by ₹16.55, or 1.01%, on the BSE.
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