Havells India Limited reported a 42 percent rise in its consolidated net profit to Rs 407.51 crore in the first quarter ended June 30, 2024. The scorching heat resulted in strong sales growth. In a regulatory filing, Havells India stated that the firm had earned a consolidated net profit of Rs 287.07 crore in the same quarter of the previous fiscal.
The company stated that its consolidated operating revenue stood at Rs 5,806.21 crore in the first quarter, up from Rs 4,833.8 crore in the same period a year ago. In the quarter under review, total expenses were Rs 5,334.54 crore, up from Rs 4,516.59 crore in the same period a year ago.
The electrical consumer durables segment posted a revenue of Rs 1,055.42 crore in the first quarter of this fiscal, up from Rs 877.52 crore in the same period a year ago. The company stated that revenue from Lloyd's brand of consumer products stood at Rs 1,928.72 crore, as compared to Rs 1,310.92 crore in the same period last fiscal year.
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In the quarter under review, the cable business segment posted revenue of Rs 1,521.24 crore, up from Rs 1,485.18 crore in the same quarter last fiscal.
In a presentation to investors, Havells India stated that sales increased significantly as a result of the scorching heat, and the industrial and infrastructure sectors performed well, although there was some impact as a result of the elections. Investments in brand building continued in the first quarter, and 3% of revenue was spent on advertising and sales promotion. The company stated that demand is likely to remain positive, with some improvement in consumer trends.
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(With PTI's Input)