Havells India Q1FY15 Profit Up By 13%

Havells India, one of the fastest growing electrical products manufacturers announced its financial results for the quarter ended 30th June 2014. On standalone basis, the company reported a mere 13.32% growth in the net profit for the quarter ended June 2014 at Rs 107 crore against Rs 94.66 crore in the same period last year. The net profit was impacted by higher expenses which rose by 21.64% at Rs 1135.55 crore against Rs 933.46 crore and tax doubled to Rs 42.28 crore against Rs 20.73 crore in the corresponding quarter of previous year.

The total income from the operations grew by 21.45% in the current quarter to Rs 1277 crore against Rs 1051 crore across the segments. The company reported strong revenue growth by 21.45%. The revenue from its switchgears business increased by 11.35% to Rs 307.31 crore against Rs 275.97 crore on yearly basis, meanwhile the cable business shot up by 32% to Rs 534.80 crore against Rs 404.88 crore. On the similar lines, the revenue from lighting and fixtures grew by 11.61% to Rs 165.42 crore against Rs 148.28 crore and electrical consumer durables increased by 21.18% to Rs 269 crore against Rs 222.25 crore on yearly basis.

Meanwhile, Havells European subsidary Sylvania also posted their quarter ended results for the financial year Q1FY15. The company posted profit of 0.3 million Euro against loss of 0.8 million Euro in the same quarter of the previous year. Meanwhile the revenue increased to 107.2 million Euro against 106.7 million Euro in the corresponding quarter of previous year.

Post the results were announced; the shares of the company dropped by 2.19% and closed at Rs 1210.