You are here: Home » News-ANI » Business
Business Standard

Havells India Q1 profit falls 16 pc with slow growth in key segments

Topics
Business Finance

ANI 

Fast-moving electrical goods (FMEG) manufacturer Havells India on Saturday reported a 16 per cent decline in its profit to Rs 177 crore during the first fiscal quarter ended June due to sluggish growth key segments like cables, lighting, and switch gears.

In Q1 of FY19, it had reported a profit of Rs 211 crore. Consolidated revenue in Q1 FY 20 grew by 4.5 per cent to Rs 2,717 crore with electrical consumer durables showing a growth of 24 per cent.

The growth was marginal in the rest of the segments. Lighting and fixtures grew by 5 per cent, cables by 4 per cent and switch gears by half a per cent.

"Switchgears being related to construction have been subdued owing to realty and project slow down. Industrial cable and professional lighting demand impacted by the delay in fresh government projects since elections," Havells said in a statement.

"Electrical consumer durables delivered a superior performance amid tepid market scenario. Apart from fans, there is high growth from small domestic appliances, water heater, water purifier, and air coolers," it added.

AC offtake recovered from Q4 albeit continued to be soft. The steep decline in LED panels has caused overall lower sales for Lloyd, it said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, July 27 2019. 16:24 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU