Home appliance Havells Q3 net profit decline by 7.2%, declares dividend of ₹3
1 min read 19 Jan 2023, 02:53 PM ISTThe revenue from operations of Havells grew by 12.8 per cent to ₹4,120 crore in the quarter under review from ₹3,652 crore a year ago
PremiumHome appliance manufacturer Havells on Thursday reported net profit declined by 7.2 per cent to ₹283.54 crore for the December 2022 quarter. This is against a net profit of ₹305.92 crore in the year-ago period, Havells said in a regulatory filing.
The revenue from operations of Havells grew by 12.8 per cent to ₹4,119.71 crore in the quarter under review from ₹3,652.25 crore a year ago.
On the sequential basis, net profit rose by 51.7 per cent as Havells had reported a net profit of ₹186.81 crore in the September quarter.
According to the filing, the company's reported a total segment revenue of ₹4119.71 crore, led by its cables segment, which accounted for ₹1,412.14 crore.
The company's board recommended a declared an interim dividend of Rs. 3 per equity share of ₹1.
"The Board of Directors has also declared an Interim Dividend of Rs. 3/- per Equity Share of Re. 1/- each i.e. @ 300% on the Equity Share Capital of the Company," Havells said in its regulatory filing.
The record date for the interim dividend has been set as January 28, 2023. The dividend shall be paid by 17 February, 2023.
Lloyd growth momentum maintained; however, margins remain under pressure owning to high-cost inventory and market competitiveness
"Lloyd continues to hold high-cost inventory. Margins should further improve in Q4," said Havells in its regulatory filing.
"Accelerated investment on brand with spend of ₹128 cr as against ₹100 cr Q3 last year," it added.
On Thursday, the company's scrip on BSE was trading 0.12 per cent lower at ₹1,200.90.
