Havells Q1 profit slips 16% to Rs 177.09 crore

Consumer electrical goods maker Havells India Ltd on Saturday reported a 16.13 percent fall in its consolidated net profit to Rs 177.09 crore for the first quarter ended June 2019. The company had logged a net profit of Rs 211.16 crore in the April-June period a year ago, according to a regulatory filing.

Total income during the quarter rose 4.81 percent to Rs 2,756.50 crore as against Rs 2,629.94 crore in the corresponding quarter of the previous year. Its total expenses stood at Rs 2,489.62 crore in the said quarter as compared to Rs 2,328.23 crore a year earlier, up 6.93 percent.

Revenue from Switchgears segment was marginally up 0.47 percent at Rs 377.52 crore as against Rs 375.75 crore in the year-ago period. Its cables segment revenue came in at Rs 778.52 crore in the April-June quarter of FY 2018-19, as compared with Rs 749.93 crore a year ago.

Revenue from lighting and fixtures jumped 8.61 percent to Rs 285.34 crore, as against Rs 262.70 crore. Havells' electrical consumer durables revenue increased to Rs 623.50 crore as against Rs 504.21 crore in the June quarter of 2018.

Revenue from Lloyd Consumer, a company that Havells had acquired in 2017, was down 7.92 percent to Rs 652 crore as against Rs 708.13 crore a year ago.