Havells Q2 profit up 9.7 pc to Rs 349.22 cr as revenue rises

New Delhi, Oct 22 (PTI) Consumer electrical goods maker Havells India on Thursday reported a 9.72 per cent year-on-year increase in consolidated net profit to Rs 349.22 crore in the September quarter of FY27, helped by revenue growth.

The company had posted a consolidated net profit of Rs 318.28 crore in the July-September quarter a year ago, according to a regulatory filing from Havells India.

Its revenue from operations was up 34.57 per cent to Rs 6,432 crore in the September quarter of FY27. It was Rs 4,779.33 crore in the corresponding period of the previous fiscal.

Havells’ total expenses were at Rs 5,991.98 crore, up 34.47 per cent from the year-ago period.

“Q2 delivered strong business performance with around 35 per cent YoY revenue growth

and around 30 per cent EBITDA growth as the demand remained steady despite inflationary environment,” said Chairman and Managing Director Anil Rai Gupta.

However, he also mentioned that although “macro uncertainties” persist, Havells India remains positive for the ongoing festive season.

In the September quarter, Havells India’s switchgear business reported a 31.3 per cent increase in revenue to Rs 782 crore, supported by a pickup in domestic demand and a recovery in exports following disruptions in the preceding June quarter.

Its cables segment posted a 47.9 per cent growth in revenue to Rs 2,999 crore, driven by commodity-linked price increases and a shift in product mix towards higher-sized cables.

Revenue from lighting and fixtures rose 7 per cent to Rs 449 crore during the quarter, supported by an improvement in demand and stabilisation of prices.

The electrical consumer durables (ECD) segment reported a 10.7 per cent increase in revenue to Rs 1,072 crore, with growth witnessed across product categories.

Havells’ renewables business continued to scale up rapidly, with revenue more than doubling to Rs 329 crore in the September quarter, reflecting continued expansion in the segment.

Lloyd Consumer, the consumer durables business acquired by Havells in 2017, reported a 28.4 per cent growth in revenue to Rs 615 crore, driven by a combination of higher sales volumes and price increases.

Total revenue of Havells India, which includes other income, was at Rs 6,464.60 crore, up 32.86 per cent in the second quarter of FY27.

Shares of Havells India Ltd on Thursday settled at Rs 1,075.60 on BSE, up 0.42 per cent from the previous close. PTI KRH DRR