Havells India Ltd declared its Q1 Results facing a staggering decline of almost 64% in Net Profit QoQ basis and a decline of 63.8% of Net Profit on YoY basis. Its revenue generation stood as Rs 1516 Crores this year as compared to Rs 2238 Crores in Q4FY20 which is a reduction of 32%(QoQ). Last Financial Year, the company had declared a Total revenue of Rs. 2756.5 Crores.
V-Guard declared a Net Profit of just 3.6 Crore this quarter as compared to Rs. 32.2 crores last quarter Q4FY20 which is an 88.71% reduction in Net Profit(QoQ) and 93.14 %(YoY) with last year’s Q1 result at Rs.53 Crores.
According to V-Guard, “The spread of COVID-19 pandemic and consequent national and local lockdowns have had an adverse impact on the Company’s operations. Due to Market closures, supply chain disruptions and other effects of the lockdowns, tl1e Company’s revenues for the quarter ended June 2020 were 42% lower than the corresponding quarter of the previous year“.
|Total Revenue Change (QoQ)||-32%||-24.45|
|Net Profit Change %(QoQ)||– 64%||-63.8%|
|Total Revenue Change (YoY)||-45%||-42.13%|
|Net Profit Change %(YoY)||-63.87%||-93.14%|
Both Havells and V-Guard are both electrical appliance manufacturers with Havells having a market cap of Rs. 372.74B and V-Guard with a Rs.70.84B. Both company shares moved sideways throughout the day and tanked by the end of the day due to expectation of poor performance.
To check company report for Havells click here.
To check company report for V-Guard click here.