Havells net profit down 12.7% to Rs 305.82 crore in third quarter

Consumer electrical goods maker Havells India Ltd on Thursday reported a decline of 12.7 per cent in its consolidated net profit to Rs 305.82 crore for the third quarter ended December 2021.

The company had posted a consolidated net profit of Rs 350.14 crore in the October-December quarter a year ago, Havells said in a regulatory filing.

Its revenue from operations was up 15.4 per cent at Rs 3,664.21 crore during the period under review as against Rs 3,175.20 crore in the corresponding period last fiscal.

Commenting on the results, Havells India Chairman and Managing Director Anil Rai Gupta said, "Festive demand was encouraging. The last few weeks have seen the return of Covid-led anxiety in the demand markets but it seems that recovery could be swift. We remain positive on demand resilience."

Havells total expenses were at Rs 3,302.50 crore, up 20.32 per cent, in Q3/FY 2021-22 as against Rs 2,744.72 crore a year ago.

Revenue from the Switchgears segment was Rs 495.97 crore, up 13.46 per cent as against Rs 437.12 crore in the October-December quarter a year ago.

Its cables segment was at Rs 1,205.83 crore, up 33.22 per cent, as against Rs 905.17 crore.

Havells' revenue from lighting and fixtures in Q3/FY2021-22 was up 13.86 per cent to Rs 412.92 crore, against Rs 362.64 crore in the corresponding quarter of the previous year.

While Electrical consumer durables (ECD) was up 14.36 per cent at Rs 895.53 crore as against Rs 783.06 crore in the year-ago period.

However, revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was down 8.16 per cent to Rs 469.82 crore during the October-December quarter as against Rs 511.56 crore.

Havells' revenue from 'Other Segment' was at Rs 184.14 crore, up 4.83 per cent, as against Rs 175.65 crore.

Shares of Havells India Ltd on Thursday settled at Rs 1,310.20 on BSE, up 0.11 per cent from the previous close.