2024-10-17 17:08:11 :
New Delhi, Oct 17 (PTI) – Consumer electronics maker Havells India Ltd on Thursday reported a 7.5 per cent rise in consolidated net profit to $Revenue for the September 2024 quarter stood at Rs 267.77 million, driven by improving consumer demand trends.
The company reported consolidated net profit of $2,490.8 crore in the July-September quarter last year, according to regulatory filings.
Its operating income increased by 16.38% $4,539.31 crore in the September quarter. It turned out to be $3,900.33 million in the corresponding period of the previous fiscal year.
“The company achieved good overall growth across various segments, driven by improving consumer demand trends,” Havel’s India said in an investor presentation after the results.
Additionally, the shift to the festive season resulted in higher advertising and promotional spend at Havells in the September quarter.
Havells India’s total spend rises 18% $4,268.94 crore in the September quarter.
Additionally, the company has settled insurance claims from the 2022 Neemrana fire incident and has received $A recovery value of Rs 32.84 crore was provided to the insurance company. therefore, $Rs 1,705 crore has been recognized as other income.
Havells India’s total revenue (including other revenue) grew by 17.18% to $4,632.20 Crores.
Havells’ switchgear business revenue rose 4% in the September quarter to $551 Crores.
Cable segment revenue was $18.05 billion rupees, an increase of 23% $1,470 crore in Q2 FY24.
However, Havells’ lighting and fixtures revenue fell 1% to $Revenue for the reported quarter was Rs 395.07 crore.
Its electrical consumer durables (ECD) business grew 17% to $856 crore in Q2 FY25.
Revenue from Lloyd Consumer, which Havells acquired in 2017, was $589.6 Crores.
Havells’ revenue from “Other Segments” is $341.84 crore, an increase of 28% over the September quarter.
Shares of Havells India Ltd fell 5.84% on Thursday to close at $1,826.35 per person on BSE.
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