Havells India Q1 up 36% at ~145.58 cr

Electrical goods maker Havells India on Saturday reported a 36.27 per cent increase in standalone net profit at ~145.58 crore for the first quarter ended June 30, 2016.

The company had posted a net profit of ~106.83 crore in the April-June period a year ago, Havells India said in a BSE filing. Its net sales on standalone basis during the quarter under review was up 17.05 per cent to ~1,455.38 crore as against ~1,243.30 crore of the corresponding quarter of the previous fiscal.

Havells India chairman and managing director Anil Rai Gupta said: “The first quarter has delivered visible improvement across product categories. Apart from growth in headline segments, we have grown in sub-segments like pumps, geysers, exports and standard. Switchgear segment growth could be partially attributed to base effect of low growth in last year.”

He further said: “Cables and wires volume growth continue to be suppressed with low commodity pricing. Lighting and ECD segments have revved up with a promising outlook.”