Havells Q4 net profit rises 24.8% to Rs 446.7 crore

New Delhi: Consumer electrical goods maker Havells India Ltd on Tuesday reported an increase of 24.76 per cent in its consolidated net profit to Rs 446.70 crore for the March 2024 quarter.

The company had posted a consolidated net profit of Rs 358.04 crore in the January-March quarter a year ago, according to a regulatory filing.

Its revenue from operations grew 12 per cent to Rs 5,442.02 crore during the period under review. It was Rs 4,859.21 crore in the corresponding quarter last fiscal.

Havells India's total expenses climbed 11.3 per cent to Rs 4,918.05 crore in the March quarter.

During the quarter, Havells' margin expanded by 20.6 per cent.

The company "achieved margin expansion through operational efficiencies while sustaining investments in long-term capabilities," Chairman and Managing Director Anil Rai Gupta said.

Total income in the March quarter, which includes other incomes, increased 12.47 per cent to Rs 5,517.77 crore.

This was helped by factors, including a positive start for summer products, and early signs of benefits from the real estate uptick, Havells India said in its earnings statement.

Moreover, "continued industrial & infrastructure led demand driving B2B revenue," it said.

Havells' revenue from the switchgear segment during the quarter rose 8 per cent to Rs 651.28 crore.

Revenue from the cables segment grew 14 per cent to Rs 1,789.55 crore as against Rs 1,568.15 crore in the fourth quarter of FY23.

During the period under review, Havells' revenue from lighting and fixtures was 5 per cent higher at Rs 435.30 crore.

Electrical consumer durables (ECD) increased 21 per cent to Rs 910.37 crore in the fourth quarter of FY24.

Revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was Rs 1,345.88 crore.

Its revenue from 'other segment' swelled 22 per cent to Rs 309.64 crore in the March quarter.

For the financial year ended on March 31, 2024, Havells India's net profit rose 18.57 per cent to Rs 1,270.76 crore. The same stood at Rs 1,071.73 crore a year ago.

Total income in FY24 was Rs 18,838.97 crore, up 10.24 per cent as against Rs 17,088.44 crore in FY23.

Meanwhile, in a separate filing, Havells informed its board in a meeting held on Tuesday recommended a 600 per cent final dividend, which is Rs 6 per equity share of Re 1 each for the financial year 2023-24.

"This is in addition to the interim dividend declared during the FY 2023-24 for an amount of Rs 3 per share," it said.

Shares of Havells India Ltd settled at Rs 1,662.85 apiece on the BSE, up 1.09 per cent from the previous close.