Havells India Q3 net profit rises 27% to Rs194 crore
New Delhi: Consumer electrical goods maker Havells India Ltd on Monday reported a stand-alone net profit of Rs194.36 crore for the quarter ended in December 2017, compared to a profit of Rs152.97 crore a year ago.
Total income during the quarter under review stood at Rs1,993.53 crore versus Rs1,650.68 crore in the year-ago period. The company said the results are not comparable with previous period as it had acquired consumer durable business of LEEL Electricals Ltd in May last year.
“We expect that rationalisation of GST (goods and service tax) rates for electrical product categories would trigger positive sentiments amongst consumers. We are optimistic on growth going forward,” Havells India chairman and managing director, Anil Rai Gupta said.
Revenue from switchgear division was Rs344 crore during the quarter as against Rs331 crore in the third quarter of the financial year 2016-17. The cable division grew to Rs626 crore in the quarter as compared to Rs609 crore in the corresponding quarter of last year, the company said.
Havells India shares closed 0.95% up at Rs552.15 apiece on BSE on Monday, while the Sensex ended 0.81% to 35,798.01 points.