Havells India Q1 profit up 36% to Rs145.58 crore
- US FCC to vote to repeal net neutrality rules: chief Ajit Pai
- Satin Creditcare subsidiary gets housing finance licence
- Robert Mugabe ends 37-year Zimbabwe rule under impeachment threat
- Brics Bank approves $400 million loans for India, Russia
- Oxford University sued over grades by student who couldn’t get into Harvard
New Delhi: Electrical goods maker Havells India Ltd on Saturday reported a 36.27% increase in standalone net profit at Rs.145.58 crore for the first quarter ended 30 June.
The company had posted a net profit of Rs.106.83 crore in the April-June period a year ago, Havells India said in a BSE filing. Its net sales on standalone basis during the quarter under review was up 17.05% to Rs.1,455.38 crore as against Rs.1,243.30 crore from a year ago.
Havells India chairman and managing director Anil Rai Gupta said: “The first quarter has delivered visible improvement across product categories. Apart from growth in headline segments, we have grown in sub-segments like pumps, geysers, exports and Standard. Switchgear segment growth could be partially attributed to base effect of low growth in last year.”
He further said: “Cables and wires volume growth continue to be suppressed with low commodity pricing. Lighting and ECD segments have revved up with a promising outlook”. Revenue from switchgears was up 20.20% to Rs.352.85 crore as against Rs.293.55 crore in the year-ago period.
Earnings from cable went up by 4.94% to Rs.532.96 crore as compared to Rs.507.86 crore. During the period under review, revenue from lighting and fixtures segment was up 22.12% to Rs.196.21 crore from Rs.160.66 crore, while its electric consumer durables segment revenue rose by 21.06% to Rs.351.42 crore as against Rs.290.27 crore from a year ago.