Havells India on Wednesday reported a 1.4 per cern year-on-year (YoY) rise in its consolidated net profit at Rs 358 crore for the quarter ended on 31 March 2023, compared to the last year at Rs 352 crore in the same quarter, according to the company’s regulatory filing.
Its consolidated revenue from operation rose by 9.8 per cent YoY at Rs 4,859 crore in the quarter gone by, against the revenue recorded Rs 4,426 crore in Q4FY22.
The company’s expense also increased by 10 per cent YoY at Rs 4,419 crore, compared to Rs 3,996 crore the previous financial year in the same quarter.
During the March quarter, Havells reported revenue of Rs 601.03 crore and Rs 1,568.15 crore from the Switchgears and Cables segments, respectively.
The company’s revenue from lighting and fixtures in Q4 FY23 was Rs 415.95 crore, while its revenue from Electrical Consumer Durables was Rs 749.45 crore.
Additionally, the revenue generated from Lloyd Consumer, a company that Havells had acquired in 2017, amounted to Rs 1,271.02 crore.
Anil Rai Gupta, Havells India Chairman and Managing Director said, “There is moderate revenue growth amidst sluggish consumer demand environment. While business and consumers contend with persistent inflation, we are optimistic about opportunities ahead and confident of capitalising on the same.”
The board of the company has proposed a final dividend of Rs 4.50 per equity share of Rs 1/- each for the fiscal year 2022-23. This proposal is subject to approval by the shareholders at the upcoming Annual General Meeting (AGM) of the company. Upon approval, the dividend will be paid or dispatched to shareholders within 30 days from the date of the AGM.
