Havells India Q3 results: PAT drops 2% to Rs 283 cr on higher expenses

Havells India, the country's biggest home appliances maker by market value, reported a nearly 2 per cent drop in third-quarter profit on Thursday as higher labour and advertising expenses ate into margins. 

The company's profit fell to Rs 283 crore ($32.7 million) in the three months ended Dec. 31 from Rs 288 crore a year earlier. 

Havells, which is the first among its peers to report third-quarter results, said revenue from operations rose nearly 11 per cent to Rs 4,883 crore, while total expenses climbed 12.3 per cent to Rs 4,564 crore.  ALSO READ: Infosys Q3 results: Net profit rises 11.4% to Rs 6,806 cr, revenue up 7.6% 

 

Key context 

Havells has been spending more on marketing and hiring across its various businesses as part of its plan to boost R&D and improve retail distribution chains. 

It is also still pumping money into home appliances brand Lloyd, which it acquired in 2017, to expand its product range to larger household goods such as refrigerators and televisions and improve its brand recognition, analysts have said.   

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