Havells Q2 profit drops 7.34% to Rs 302.39 cr, sales up 31.6%

Consumer electrical goods maker Havells India Ltd on Wednesday reported a 7.34 per cent decline in its consolidated net profit to Rs 302.39 crore for the quarter ended on September 30, 2021, compared to Rs 326.36 crore in the year-ago quarter.

Its revenue from operations rose by 31.65 per cent to Rs 3,238.04 crore during the period under review as against Rs 2,459.49 crore in the corresponding period of the last fiscal.

Commenting on the result, Havells India Chairman and Managing Director Anil Rai Gupta said, "We are enthused with healthy revenue growth across business verticals. Increase in commodity cost remains unabated creating margin headwinds. However, our outlook on demand remains fairly positive."

Havells total expenses were at Rs 2,866.54 crore, up 35.60 per cent at Q2/FY 2021-22 as against Rs 2,113.92 crore.

Revenue from the switchgears segment was Rs 448.17 crore, up 21.03 per cent as against Rs 370.27 crore in the July-September quarter a year ago.

Its cables segment revenue was at Rs 1,143.98 crore, up 45.79 per cent compared to Rs 784.67 crore of Q2/FY 2020-21. Havells' revenue from lighting and fixtures in Q2/FY 2021-22 was up 31.86 per cent to Rs 359.06 crore, against Rs 272.30 crore in the corresponding quarter of the previous year.

While electrical consumer durables (ECD) was up 25.77 per cent to Rs 729.36 crore as against Rs 579.87 crore in the year-ago period.

Revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was up 23.59 per cent to Rs 346.60 crore during the July-September quarter as against Rs 280.44 crore.

Havells' Revenue from Other Segment' was at Rs 211.17 crore, up 22.81 per cent, as against Rs 171.94 crore.

Havells India Ltd said its board in a meeting held on Wednesday has declared an interim dividend of 300 per cent, which is Rs 3/- per Equity Share of Re. 1/.

Shares of Havells India Ltd on Wednesday settled at Rs 1,405.35 on BSE, down 1.35 per cent.