Havells India Q1 net profit up 42 pc at Rs 407.51 cr

New Delhi, Jul 18 (PTI) Havells India Ltd on Thursday reported a 42 per cent jump in consolidated net profit at Rs 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 Rs 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 Rs 5,806.21 crore, as compared to Rs 4,833.8 crore in the corresponding period a year ago, the company said.

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

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

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

The cables business segment clocked revenue of Rs 1,521.24 crore in the quarter under review, up from Rs 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 per cent of revenue spent on advertising and sales promotion, it added.

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