Havells India Shows Sturdy Profit Growth Amid Rising Consumer Demand

Havells India Ltd, a leading consumer electrical goods manufacturer, reported a 7.5% increase in net profit for the September 2024 quarter, driven by strong consumer demand. The company's revenue also rose significantly, driven by growth across various segments, though total expenses increased. A resolved insurance claim added to the positive financial outcomes.

Havells India Ltd, a major player in the consumer electrical goods sector, reported a 7.5% rise in consolidated net profit to ₹267.77 crore for the quarter ending September 2024, as improved consumer demand trends bolstered performance.

The company, which previously recorded a profit of ₹249.08 crore in the same quarter the previous year, saw its revenue soar by 16.38% to ₹4,539.31 crore. This growth was attributed to a broad-based upsurge in demand and a strategically advanced marketing push due to the festive season shift.

Notably, Havells settled its insurance claim from the 2022 Neemrana fire incident, receiving ₹32.84 crore, of which ₹17.05 crore was recognized as other income. Overall, the company's total income, which includes other earnings, rose by 17.18% to ₹4,632.20 crore. Shares of Havells ended 5.84% lower on the BSE, closing at ₹1,826.35.

(With inputs from agencies.)