New Delhi, Jan 23: Electrical goods maker Havells India has reported a 32.58 per cent increase in consolidated profit-after-tax at Rs 118 crore for the third quarter ended December 2012 on robust performance by all segments.
The company had posted a PAT of Rs 89 crore during the corresponding quarter previous year.
Consolidated net income during the third quarter also grew 9.34 per cent to Rs 1,814 crore from Rs 1,659 crore in the year-ago period, Havells India said in a release.
Commenting on the results, Havells India Joint Managing Director Anil Rai Gupta said: “The growth momentum has continued in the current quarter and this has been in line with our targets.
“It is also reflective of several initiatives undertaken in the last nine months that include enhancing our footprint in the domestic market and expanding our product portfolio.''
Lighting fixture plant
During the quarter, the company inaugurated the country's first large-scale lighting fixture plant at Neemrana in Rajasthan.
“With new product launches in consumer goods receiving good response, we are confident of maintaining growth momentum in the year ahead,” Gupta said.
During October-December, switchgear sales grew 19 per cent to Rs 270 crore from Rs 226 crore achieved in the same quarter of the previous year.
“Electronic and electrical consumer durables grew 47 per cent with a revenue of Rs 576 crore against Rs 391 crore in the corresponding quarter of the previous year. The company's fan business registered a strong growth of 30 per cent,” the statement said.
Besides, the lighting and fixtures business grew 20 per cent to Rs 483 crore from Rs 403 crore, while the domestic cable segment showed an increase of 27 per cent.
During the third quarter, the company expanded Havells Galaxy chain by opening 12 more stores across India, taking the total such outlets to 189.
Shares of Havells India were trading down 0.89 per cent at Rs 658.90 apiece in the afternoon trade on the BSE.
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