Havells India Q1 results: Net profit falls 15% to ₹348 crore, revenue down 6%

Its revenue from operations fell 6% to ₹5,455.35 crore in the latest April-June quarter, as against ₹5,806.21 crore in the same period of the previous fiscal year.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) declined 9.7% to ₹570 crore in the quarter under review as against ₹576 crore in Q1 FY25. The margin stood at 5.6% vs 9.9% in the same year-ago quarter.

"Tepid summer this year, in contrast to the strong season last year led to significant decline in cooling products. Consumer demand remains subdued while industrial-infra demand maintained its growth momentum. Focus on cost discipline resulted in modest growth in expenses, containing the impact of revenue decline on net profitability," the company said in an exchange filing.

The wire and cables segment revenue grew 27.1% to ₹1,933 crore in the reporting quarter as against ₹1,521 crore in the June quarter of FY25.

The lighting and fixtures segment revenue fell 3.1% to ₹374 crore as against ₹386 crore.

"In ECD segment, unseasonal rains & shorter summer season impacted demand for fans & air coolers. Lloyd performance impacted with a weak summer season as against a strong season last year; flattish growth in H1CY25 (Jan to June)," Havells said, adding that its inventory increased due to lower-than-planned sales in Lloyd.

During the quarter, the 'non-current financial assets- Other investments' surged with ₹600 crore investment in Goldi Solar.

The results were announced post-market hours. The stock settled 0.95% higher at ₹1,533 apiece on the National Stock Exchange (NSE). Its market capitalisation stands at ₹96,150.74 crore.