Havells Surges Over 10%, Hits Record High After Profit Rises 75% In Q3

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Shares of electrical products maker – Havells – rose as much as 11.75 per cent to hit record high of ₹ 1,141 on the BSE after it reported December quarter earnings post market hours on Thursday. The Noida-based company’s net profit in October-December period rose 75 per cent to ₹ 349 crore compared to ₹ 199 crore during the same quarter last year. Its revenue from operations rose 39 per cent to ₹ 3,165.85 crore from ₹ 2,269.87 crore.

The company during the quarter declared an interim dividend of ₹ 3 per equity share of face value of ₹ 1 each that is 300 per cent of the equity share capital of the company.

Record date for payment of dividend is January 29.

Meanwhile, the board of directors has appointed Namrata Kaul as an additional independent director with effect from January 20, 2021 to hold office upto the next annual general meeting of the company.

As of 11:22 am, Havells traded 11 per cent higher at ₹ 1,135, outperforming the Sensex which was up 0.66 per cent.

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