Havells profit rises 1.57% to Rs 358 cr, revenue up 9.8% to Rs 4,859 cr

Havells India Ltd on Wednesday reported an increase of 1.57 per cent in its consolidated net profit at Rs 358.04 crore for the fourth quarter ended on March 31, 2023.

The consumer electrical goods maker company had posted a consolidated net profit of Rs 352.48 crore in the January-March quarter a year ago, Havells said in a regulatory filing.

Havells' revenue from operations rose by 9.78 per cent to Rs 4,859.21 crore during the period under review, as against Rs 4,426.26 crore in the corresponding period last fiscal.

Its total expenses were at Rs 4,419.23 crore, up 10.58 per cent in Q4/FY23, as against Rs 3,996.12 crore a year ago.

Havells India Chairman and Managing Director Anil Rai Gupta said there is "moderate revenue growth amidst sluggish consumer demand environment. While business and consumers contend with persistent inflation, we are optimistic about opportunities ahead and confident of capitalising on the same."

In the March quarter, Havells' revenue from the Switchgears segment was Rs 601.03 crore and from the cables segment it was Rs 1,568.15 crore.

Havells' revenue from lighting and fixtures in the fourth quarter of FY23 was at Rs 415.95 crore. Its revenue from Electrical Consumer Durables was at Rs 749.45 crore.

Revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was at Rs 1,271.02 crore.

Meanwhile, in a separate filing, Havells India said its board also recommended a final dividend of Rs 4.50 per equity share of Re 1 each for the financial year 2022-23.

For the financial year ended March 2023, Havells' net profit declined 10.42 per cent to Rs 1,071.73 crore. It was Rs 1,196.47 crore in FY22.

However, its revenue for operation in FY23 increased 21.32 per cent to Rs 16,910.73 crore, against Rs 13,938.48 crore a year ago.

Shares of Havells India Ltd on Wednesday settled at Rs 1,241.25 apiece on BSE, up 1.26 per cent.