Havells profit jumps 74.5% as consumer, cable units shine

Consumer electrical goods maker Havells India Ltd on Wednesday reported a 74.52 per cent jump in its consolidated net profit to Rs 350.14 crore for the third quarter ended on December 2020.

The company had posted a consolidated net profit of Rs 200.62 crore in the October-December quarter a year ago, Havells said in a regulatory filing.

Its revenue from operations was up 39.67 per cent to Rs 3,175.20 crore during the period under review as against Rs 2,273.29 crore in the corresponding period last fiscal, the company said.

Havells' total expenses were at Rs 2,744.72 crore as against Rs 2,064.24 crore, up 32.96 per cent.

Revenue from Switchgears segment was Rs 437.12 crore, up 32.10 per cent as against Rs 330.90 crore in the year-ago period of October

December.

Revenue from its cables segment was up 27.11 per cent to Rs 905.17 crore as against Rs 712.08 crore in October-December 2019-20.

Havells' revenue from lighting and fixtures in the October-December quarter was up 29.80 per cent to Rs 362.64 crore, against Rs 279.38 crore in the corresponding quarter of the previous year.

Electrical consumer durables (ECD) revenue was up 46.10 per cent to Rs 783.06 crore as against Rs 535.94 crore in the year-ago period. Revenue from Lloyd Consumer, a company which Havells acquired in 2017, was up 53.32 per cent to Rs 511.56 crore during October-December quarter as against Rs 300.43 crore in the yearago period.

Havells' revenue from others was at Rs 175.65 crore, up 53.32 per cent, as against Rs 114.56 crore.

Meanwhile, in a separate filing, Havells said that its board has declared an interim dividend of 300 per cent, which is Rs 3/- per Equity Share of Re. 1/- each.

The board has also appointed Namrata Kaul as an independent director of the company. Shares of Havells India Ltd on Wednesday settled at Rs 1,019.85 on BSE.

Electrical consumer durables (ECD) revenue was up 46.10% to Rs 783.06 crore as against Rs 535.94 crore a year ago