Havells India shares end 5 per cent down on muted Q1 earnings

MUMBAI: Shares of electrical goods maker Havells India closed 5 per cent lower today as the company's standalone net profit remained flat at Rs 107.37 crore in the first quarter ended June.

The stock closed the day with a loss of 4.97 per cent at Rs 283.20 on the BSE. During the day, it dipped 6.64 per cent to Rs 278.20.

At the NSE, shares of the company fell by 5 per cent to Rs 283.05.

The company's market valuation went down by Rs 923.67 crore to Rs 17,688.33 crore.

Havells India's standalone net profit remained flat at Rs 107.37 crore in the first quarter ended June 30 on account of weak macroeconomic conditions.

The company had reported a net profit of Rs 107.27 crore during the same period of previous fiscal.

Net sales of the company declined marginally by 0.70 per cent to Rs 1,258.1 crore for the April-June quarter compared with Rs 1,267.05 crore during the same period last year, Havells India had said in a BSE filing on Saturday.