NEW DELHI, May 29: Consumer electrical goods maker Havells India Ltd on Wednesday reported a decline of 8.38 per cent in its standalone net profit to Rs 206.83 crore for the March 2019 quarter, impacted by demand slowdown.
The company had posted a net profit of Rs 225.76 crore in the January-March quarter a year ago, Havells India said in a BSE filing.
However, its total income during the quarter was up 8.67 per cent to Rs 2,782.81 crore as against Rs 2,560.64 crore in the corresponding quarter of the previous year.
Havells India Chairman and Managing Director Anil Rai Gupta said, “Fourth quarter experienced demand slowdown exacerbated by liquidity crunch, extended winters and impending general elections.”
Havells India’s total expenses in the quarter stood at Rs 2,474.22 crore, compared with Rs 2,220.28 crore in the corresponding period last year, a rise of 11.43 per cent.
Revenue from Switchgears segment was Rs 436.76 crore, up 10.67 per cent as against Rs 394.63 crore in the year-ago period.
Its cables segment was at Rs 897.89 crore in January-March 2019, a jump of 16.78 per cent as compared with Rs 768.86 crore a year ago.
Revenue from lighting and fixtures was up 17.74 per cent to Rs 379.96 crore, against Rs 322.69 crore in the corresponding quarter of the previous year.
Havells’ Electrical consumer durables was at Rs 504.85 crore, up 8.65 per cent as against Rs 464.62 crore in the year-ago period.
Meanwhile, revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was down 8.85 per cent to Rs 532.40 crore as against Rs 584.10 crore.
For the full financial year 2018-19, Havells’ net profit was Rs 791.52 crore. It was Rs 712.52 core in 2017-18.
Total income for 2018-19 stood at Rs 10,185.17 crore. It was Rs 8,377.26 crore in 2017-18.
Meanwhile, Havells said its annual results are “not comparable”.
“Year ended March 31 , 2018 includes business of Lloyd Consumer Division acquired from May 8, 2017, hence not comparable with year ended March 31, 2019 to that extent,” it said.
(PTI)
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