New Delhi: Electrical goods maker Havells India on Saturday reported a 36.27 per cent increase in standalone net profit at Rs 145.58 crore for the fiscal first quarter that ended on June 30, 2016. The company had posted a net profit of Rs 106.83 crore for the corresponding period a year ago, it said in a filing to the BSE.
Net sales on a standalone basis during the quarter under review were up 17.05 per cent at Rs 1,455.38 crore as against Rs 1,243.30 crore in the eary-ago period. Havells India chairman and managing director Anil Rai Gupta said, "The first quarter has delivered visible improvement across product categories. Apart from growth in headline segments, we have grown in sub-segments like pumps, geysers, exports and Standard.
Switchgear segment growth could be partially attributed to base effect of low growth in last year." "Cables and wires volume growth continue to be suppressed with low commodity pricing. Lighting and ECD segments have revved up with a promising outlook," he added.
Revenue from switchgears was up 20.20 per cent to Rs 352.85 crore as against Rs 293.55 crore in the year-ago period. Earnings from cable went up 4.94 per cent to Rs 532.96 crore as compared to Rs 507.86 crore.
During the period under review, revenue from the lighting and fixtures segment was up 22.12 per cent at Rs 196.21 crore from Rs 160.66 crore a year ago, while revenue from its electric consumer durables segment rose 21.06 per cent to Rs 351.42 crore as against Rs 290.27 crore.