Havells India Q1 up 36% at Rs 145.58 crore

Company's net sales on standalone basis during the quarter under review was up 17.05% to Rs 1,455 crore

Electrical goods maker Havells India on Saturday reported a 36.27 per cent increase in standalone net profit at Rs 145.58 crore for the first quarter ended June 30, 2016.

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 per cent to Rs 1,455.38 crore as against Rs 1,243.30 crore of the corresponding quarter of the previous fiscal.

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 per cent to Rs 352.85 crore as against Rs 293.55 crore in the year-ago period. Earnings from cable went up by 4.94 per cent 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 per cent to Rs 196.21 crore from Rs 160.66 crore, while its electric consumer durables segment revenue rose by 21.06 per cent to Rs 351.42 crore as against Rs 290.27 crore of the corresponding quarter.