Havells Q1 net profit jumps about 4-folds to Rs 236 cr; sales up 76% at Rs 2,610 cr

Consumer electrical goods maker Havells India Ltd on Wednesday reported nearly four-fold jump in its consolidated net profit to Rs 235.78 crore for the first quarter ended June 2021, driven by "resilient" demand post easing of Covid restrictions.

The company had posted a consolidated net profit of Rs 63.98 crore in the April-June quarter a year ago, Havells said in a regulatory filing.

Its revenue from operations was up 75.95 per cent at Rs 2,609.97 crore during the period under review as against Rs 1,483.40 crore a year ago.

Havells India Chairman and Managing Director Anil Rai Gupta said, "Despite a truncated quarter, overall performance has been encouraging across segments. The demand has been resilient, and we expect further improvement as Covid restrictions are progressively lifted."

Havells' total expenses were at Rs 2,327.20 crore, growing 62.86 per cent at Q1/FY 2021-22 as against Rs 1,428.93 crore.

Revenue from Switchgears segment was Rs 377.32 crore, up 98.42 per cent as against Rs 190.16 crore in the April-June quarter a year ago.

Its cables segment revenue was at Rs 807.17 crore, up 75.04 per cent, as against Rs 461.13 crore of Q1/FY 2020-21.

Havells' revenue from lighting and fixtures in Q1/FY 2021-22 increased 50.66 per cent at Rs 214.39 crore, against Rs 142.30 crore.

Electrical consumer durables (ECD) revenue rose 91.04 per cent to Rs 576.33 crore as against Rs 301.68 crore in the year-ago period.

Revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was up 62.47 per cent at Rs 497.46 crore during the April-June quarter as against Rs 306.18 crore in the corresponding period a year ago.

Havells' revenue from 'other segment' was at Rs 137.30 crore, up 67.54 per cent, as against Rs 81.95 crore.

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