Havells Q4 net profit down 10.7 pc to Rs 177.7 cr

Consumer electrical goods maker Havells India Ltd on Tuesday reported a 10.69 per cent fall in its consolidated net profit to Rs 177.73 crore for the fourth quarter ended March 31.

The company had posted a consolidated net profit of Rs 199.01 crore in the January-March quarter a year ago, Havells said in a regulatory filing.

Its revenue from operations was down 19.50 per cent to Rs 2,217.44 crore during the period under review as against Rs 2,754.77 crore a year ago, the company said.

"The quarter commenced on a promising note, however was severely disrupted by COVID-19 towards the end. These are unprecedented and uncertain times. Ensuring employee safety and adequate liquidity are our key priorities. We are cautiously optimistic for the timely resolution of crisis and business resumption," said Havells India Chairman and Managing Director Anil Rai Gupta.

Havells' total expenses were at Rs 2,040.10 crore as against Rs 2,485.62 crore, down 17.92 per cent.

Revenue from the switchgear segment was at Rs 351.10 crore, down 14.04 per cent as against Rs 408.48 crore in the year-ago period.

Its cables segment was at Rs 682.28 crore, a fall of 24.01 per cent as against Rs 897.89 crore a year ago.

The company's revenue from lighting and fixtures was up 30.55 per cent to Rs 265.90 crore, against Rs 382.87 crore in the corresponding quarter of the previous year.

The electrical consumer durables segment was down 13.66 per cent to Rs 460.27 crore as against Rs 533.13 crore in the year-ago period.

Meanwhile, revenue from Lloyd Consumer, a company that Havells acquired in 2017, was down 13.99 per cent to Rs 457.89 crore as against Rs 532.40 crore.

For the financial year 2019-20, Havells' net profit was Rs 735.35 crore, down 6.63 per cent as against Rs 787.61 crore of the previous year.

Its revenue from operations was down 6.28 per cent to Rs 9,440.26 crore, against Rs 10,073.43 crore in 2018-19.

Shares of Havells India Ltd on Tuesday settled at Rs 480.45 apiece on the BSE, down 1.69 per cent from its previous close.