Havells Q3 net up 28% at Rs 122 crore

Net sales of the company rose to Rs 1,174 crore

Electrical goods maker Havells India today reported a 28.32% increase in its standalone net profit at Rs 121.47 crore for the third quarter ended December 31, 2013.

The company had posted a standalone net profit of Rs 94.66 crore for the same period of the previous fiscal.

Net sales of the company rose to Rs 1,174.03 crore for the third quarter, as compared to Rs 1052.09 crore during the same period of the previous financial year, Havells India Ltd said in a statement.

Havells India Joint Managing Director Anil Rai Gupta said that the growth momentum continued in the current quarter, aided by good response for our products across segments. The new product launches during this period have also been received well by customers, he added.

On the outlook, Gupta said, "Going ahead, we expect to maintain our leadership position through a strategic mix of new product launches and going deeper into the hinterland by strengthening distribution."

Shares of Havells were trading at Rs 777 per scrip during the afternoon trade on the BSE, up 4.30% from its previous close.