New Delhi, Oct 17 (PTI)- Consumer electrical goods maker Havells India Ltd on Thursday reported an increase of 7.5 per cent in its consolidated net profit to ₹267.77 crore in the September 2024 quarter, driven by improvements in consumer demand trends.
The company had posted a consolidated net profit of ₹249.08 crore in the July-September quarter a year ago, according to a regulatory filing.
Its revenue from operations rose 16.38 per cent to ₹4,539.31 crore in the September quarter. It was ₹3,900.33 crore in the corresponding period last fiscal.
The company had a “decent overall growth across segments driven by improvements in consumer demand trends,” Havells India said in a post-result investor presentation.
Moreover, a shift in the festive season led to the advancement of advertising & promotion spending of Havells in the September quarter, it added.
Havells India’s total expenses grew 18 per cent to ₹4,268.94 crore in the September quarter.
In addition, the company settled its insurance claim for the Neemrana fire incident in 2022 and it has received ₹32.84 crore towards reinstatement value from the insurance company. Accordingly, ₹17.05 crore has been recognised as other income.
The total income of Havells India, which includes other income, increased 17.18 per cent to ₹4,632.20 crore.
Havells’ revenue from the Switchgears segment in the September quarter climbed 4 per cent to ₹551 crore.
Revenue from the cables segment was ₹1,805 crore, up 23 per cent, against ₹1,470 crore in Q2FY24.
However, Havells’ revenue from lighting and fixtures went 1 per cent lower at ₹395.07 crore in the reported quarter.
Its electrical consumer durables (ECD) business rose 17 per cent to ₹856 crore in the second quarter of FY25.
Revenue from Lloyd Consumer, a company which Havells acquired in 2017, was ₹589.6 crore.
Havells’ revenue from ‘other segment’ stood at ₹341.84 crore, up 28 per cent in the September quarter.
Shares of Havells India Ltd on Thursday settled 5.84 per cent lower at ₹1,826.35 apiece on the BSE.
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