Havells Q2 Profit Up 7.5% to Rs 268 Crore - Business News

New Delhi, Oct 17 (PTI) Consumer electrical goods maker Havells India Ltd on Thursday reported an increase of 7.5 per cent in its consolidated net profit to Rs 267.77 crore in the September 2024 quarter, driven by improvements in consumer demand trends.

The company had posted a consolidated net profit of Rs 249.08 crore in the July-September quarter a year ago, according to a regulatory filing.

Its revenue from operations rose 16.38 per cent to Rs 4,539.31 crore in the September quarter. It was Rs 3,900.33 crore in the corresponding period last fiscal.

The company had a "decent overall growth across segments driven by improvements in consumer demand trends," Havells India said in a post-result investor presentation.

Moreover, a shift in the festive season led to the advancement of advertising & promotion spending of Havells in the September quarter, it added.

Havells India's total expenses grew 18 per cent to Rs 4,268.94 crore in the September quarter.

In addition, the company settled its insurance claim for the Neemrana fire incident in 2022 and it has received Rs 32.84 crore towards reinstatement value from the insurance company. Accordingly, Rs 17.05 crore has been recognised as other income.

The total income of Havells India, which includes other income, increased 17.18 per cent to Rs 4,632.20 crore.

Havells' revenue from the Switchgears segment in the September quarter climbed 4 per cent to Rs 551 crore.

Revenue from the cables segment was Rs 1,805 crore, up 23 per cent, against Rs 1,470 crore in Q2FY24.

However, Havells' revenue from lighting and fixtures went 1 per cent lower at Rs 395.07 crore in the reported quarter.

Its electrical consumer durables (ECD) business rose 17 per cent to Rs 856 crore in the second quarter of FY25.

Revenue from Lloyd Consumer, a company which Havells acquired in 2017, was Rs 589.6 crore.

Havells' revenue from 'other segment' stood at Rs 341.84 crore, up 28 per cent in the September quarter.

Shares of Havells India Ltd on Thursday settled 5.84 per cent lower at Rs 1,826.35 apiece on the BSE.