Havells India Q1 net profit up 42% at ₹407.51 cr

Havells India Ltd on Thursday reported a 42% jump in consolidated net profit at ₹407.51 crore in the first quarter ended June 30, 2024, as a scorching summer led to robust sales growth.

The company had posted a consolidated net profit of ₹287.07 crore in the same quarter last fiscal, Havells India said in a regulatory filing.

Consolidated revenue from operations in the first quarter stood at ₹5,806.21 crore, as compared to ₹4,833.8 crore in the corresponding period a year ago, the company said.

Total expenses in the quarter under review were higher at ₹5,334.54 crore, as compared to ₹4,516.59 crore in the year-ago period.

The electrical consumer durables segment clocked revenue of ₹1,055.42 crore in the first quarter of this financial year, up from ₹877.52 crore in the same period a year ago.

Revenue from Lloyd brand of consumer products stood at ₹1,928.72 crore, as against ₹1,310.92 crore in the same period last fiscal, the company said.

The cables business segment clocked revenue of ₹1,521.24 crore in the quarter under review, up from ₹1,485.18 crore in the corresponding quarter last fiscal.

In an investor presentation, Havells India said a scorching summer drove robust sales growth with industrial and infrastructure segments continuing to perform well, albeit there was some impact due to elections.

In the first quarter, investments in brand building continued with 3% of revenue spent on advertising and sales promotion, it added.

The company said the demand outlook is positive with some uptick in consumer trends.