Havells Q4 profit rises 71% to Rs 304 crore

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New Delhi: Consumer electrical goods maker Havells India on Thursday reported 70.95% rise in consolidated net profit at Rs 303.83 crore for the fourth quarter ended March 31, 2021.

The company had posted a net profit of Rs 177.73 crore in the year-ago period, Havells said in a regulatory filing. Revenue from operations was up 50.59% to Rs 3,339.21 crore during the period under review as against Rs 2,217.44 crore in the corresponding period of 2019-20.

”Q4 sustained the growth momentum gained in Q3 with the highest quarterly sales. The tumultuous year has ended with reasonable growth in revenues and profitability, underpinning Havells’ resilience amidst uncertainty,” Havells India Chairman and Managing Director Anil Rai Gupta said.

Havells’ total expenses in the quarter under review were at Rs 2,919.54 crore as against Rs 2,040.10 crore. Revenue from switchgears segment was Rs 463.33 crore as compared to Rs 302.71 crore in March quarter a year ago. Its cables segment’s revenue was at Rs 1,029.20 crore, up 50.85% from Rs 682.28 crore in the year-ago period.

Revenue from lighting and fixtures in the quarter was higher at Rs 336.74 crore as against Rs 235.63 crore in the corresponding period of the previous year.

Electrical consumer durables (ECD) was up at Rs 712.38 crore as against Rs 417.66 crore in the year-ago period. Revenue from Lloyd Consumer, a company which Havells acquired in 2017, was higher by 28.98% to Rs 590.57 crore during the quarter as against Rs 457.89 crore in the same period a year ago.

Havells’ revenue from ‘Other Segment’ was at Rs 206.99 crore as against Rs 121.27 crore in March quarter 2019-20. For fiscal year 2020-21, Havells’ net profit was up 42.02% at Rs 1,044.31 crore. It was Rs 735.35 crore in the previous year. Revenue from operations was Rs 10,457.30 crore. It was Rs 9,440.26 crore in 2019-20.

Meanwhile, in a separate filing, Havells said its board in a meeting held on Thursday approved a final dividend of 350%, which is Rs 3.50 per equity share of Rs 1 each for 2020-21.

With this, the total dividend for the year is Rs 6.50 per equity share, including the interim dividend of Rs 3 per equity share, declared earlier during the financial year.

Shares of Havells India settled at Rs 1,072.65 apiece on BSE, down 0.09% from the previous close.