Havells India, a manufacturer of consumer electrical goods, reported on Thursday a year-on-year growth of consolidated net profit by 9.72%, reaching 349.22 crore rupees for the September quarter of fiscal year 27. This growth was driven by an increase in revenue.
According to Havells India's regulatory filings, in the July-September period of the previous year, the company recorded a consolidated net profit of 318.28 crore rupees. In the September quarter of fiscal year 27, the company's operating revenue increased by 34.57%, amounting to 6,432 crore rupees, compared to 4,779.33 crore rupees in the same period last fiscal year.
Havells' total expenses amounted to 5,991.98 crore rupees, which is 34.47% higher than the previous year. Chairman and Managing Director Anil Rai Gupta noted that the second quarter demonstrated strong business performance, including revenue growth of about 35% year-on-year and EBITDA growth of about 30%, despite stable demand amidst inflation.
Despite ongoing macroeconomic uncertainties, Anil Rai Gupta expressed optimism regarding the upcoming festive season. In the September quarter, Havells' switchgear business segment showed a revenue growth of 31.3% to 782 crore rupees. This growth was supported by increased domestic demand and the recovery of exports after disruptions in June.
The cables segment demonstrated impressive revenue growth of 47.9%, reaching 2,999 crore rupees. The growth was ensured by price increases related to raw materials, as well as a shift in the product portfolio towards larger cables. Revenue from lighting fixtures and lamps increased by 7% to 449 crore rupees due to improved demand and price stabilization.
The Consumer Electrical Goods (ECD) segment increased revenue by 10.7%, reaching 1,072 crore rupees, with growth observed across all product categories. Havells' renewable energy business continued to scale rapidly, doubling its revenue to 329 crore rupees in the September quarter, reflecting the expansion of this area. Lloyd Consumer, a consumer goods division acquired by Havells in 2017, increased revenue by 28.4% to 615 crore rupees due to increased sales volume and price hikes.
Havells India' total revenue, including other income, stood at 6,464.60 crore rupees, which is 32.86% higher in the second quarter of fiscal year 27. On Thursday, Havells India Ltd shares closed at 1,075.60 rupees on the BSE, showing a rise of 0.42% compared to the previous close.