BackHavells Q4 net profit down 10.7% to ₹177.7 crore
For the financial year 2019-20, Havells' net profit was ₹735.35 crore, down 6.63% as against ₹787.61 crore of the previous yearHavells' total expenses were at ₹2,040.10 crore as against ₹2,485.62 crore, down 17.92%
PremiumNEW DELHI : Consumer electrical goods maker Havells India Ltd on Tuesday reported a 10.69 per cent fall in its consolidated net profit to ₹177.73 crore for the fourth quarter ended March 31.
The company had posted a consolidated net profit of ₹199.01 crore in the January-March quarter a year ago, Havells said in a regulatory filing.
Its revenue from operations was down 19.50 per cent to ₹2,217.44 crore during the period under review as against ₹2,754.77 crore a year ago, the company said.
"The quarter commenced on a promising note, however was severely disrupted by COVID-19 towards the end. These are unprecedented and uncertain times. Ensuring employee safety and adequate liquidity are our key priorities. We are cautiously optimistic for the timely resolution of crisis and business resumption," said Havells India Chairman and Managing Director Anil Rai Gupta.
Havells' total expenses were at ₹2,040.10 crore as against ₹2,485.62 crore, down 17.92 per cent.
Revenue from the switchgear segment was at ₹351.10 crore, down 14.04 per cent as against ₹408.48 crore in the year-ago period.
Its cables segment was at ₹682.28 crore, a fall of 24.01 per cent as against ₹897.89 crore a year ago.
The company's revenue from lighting and fixtures was up 30.55 per cent to ₹265.90 crore, against ₹382.87 crore in the corresponding quarter of the previous year.
The electrical consumer durables segment was down 13.66 per cent to ₹460.27 crore as against ₹533.13 crore in the year-ago period.
Meanwhile, revenue from Lloyd Consumer, a company that Havells acquired in 2017, was down 13.99 per cent to ₹457.89 crore as against ₹532.40 crore.
For the financial year 2019-20, Havells' net profit was ₹735.35 crore, down 6.63 per cent as against ₹787.61 crore of the previous year.
Its revenue from operations was down 6.28 per cent to ₹9,440.26 crore, against ₹10,073.43 crore in 2018-19.
Shares of Havells India Ltd on Tuesday settled at ₹480.45 apiece on the BSE, down 1.69 per cent from its previous close.
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