Havells India Q3 PAT falls 12% YoY to Rs 306 cr

Havells India registered a 12% decline in standalone net profit to Rs 306 crore in Q3 FY22 from Rs 349 crore posted in Q3 FY21.

Net revenue increased by 15% to Rs 3,652 crore in Q3 FY22 from Rs 3,166 crore posted in Q3 FY21. Havells said festive demand was encouraging, however demand tapered in later part of Q3, owing to high inflation and then omicron scare.

Standalone profit before tax fell 12% year on year to Rs 411 crore in Q3 FY22. The wire maker said that advertising and promotion, went as planned and reverted to normalized levels against last year.

EBITDA declined by 13% to Rs 440 crore in Q3 FY22 from Rs 508 crore posted in the same period last year. EBITDA margin fell to 12.1% in Q3 FY22 from 16% reported in the same period last year. Havells said margins have been under pressure with elevated commodity costs and partial transition in pricing especially in consumer durables.

Revenue from the switchgears segment came at Rs 442.60 crore, up 13% year on year. Switchgear growth is benefiting from new construction and range expansion, the company said in a press release.

Revenue from cables segment was at Rs 1,206 crore in Q3 FY22, up 33% compared to Rs 905 crore posted in the year ago period. Havells' revenue from lighting and fixtures in Q3 FY22 was up 15% to Rs 408 crore, as against Rs 353 crore in the corresponding quarter of the previous year.

Electrical consumer durables revenue (ECD) was up 14% to Rs 893 crore in Q3 FY22 as against Rs 783 crore in the year-ago period.

Meanwhile Revenue from Lloyd fell 9% year on year to Rs 466 crore in Q3 FY22. Havells said Lloyd division was adversely impacted owning to low season and price hikes being deferred due to competitive intensity.

Havells India is a leading fast moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence.

Shares of Havells India ended 0.11% higher at Rs 1,310.20 on Thursday.

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