Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,003.50-72.4
Stock Analysis, IPO, Mutual Funds, Bonds & More

Havells India reports Rs 171 crore profit for July-September

The company had posted a net profit of Rs 145.79 crore during the same period previous fiscal, Havells India said in a regulatory filing.

PTI|
Updated: Oct 23, 2017, 02.54 PM IST
0Comments
Net sales during the quarter under review stood at Rs 1,777.36 crore against Rs 1,559.33 crore in the year ago period.
Net sales during the quarter under review stood at Rs 1,777.36 crore against Rs 1,559.33 crore in the year ago period.
Consumer electrical goods maker Havells India today reported a standalone net profit of Rs 171.02 crore for the quarter ended on September 30, 2017, on account of higher income.

The company had posted a net profit of Rs 145.79 crore during the same period previous fiscal, Havells India said in a regulatory filing.

The company said the results are not comparable as it had acquired the consumer durable business of Lloyd Electric and Engineering. The latest figures includes the concerned business.

Net sales during the quarter under review stood at Rs 1,777.36 crore against Rs 1,559.33 crore in the year ago period.

Havells India had acquired the consumer durable business of the Lloyd Electric and Engineering for an enterprise value of Rs 1,600 crore in February.

"GST with high tax rates on electrical products continues to disrupt demand scenario with muted consumer offtake and delayed restocking at channel," Havells India Chairman and Managing Director Anil Rai Gupta said.

He further said the GST transition has been well consummated at dealer and vendor platform.
Revenue from cable business during the period stood at Rs 569.34 crore while electrical consumer durable business revenue was 321.55 crore.

Revenue from switchgears was 329.85 crore whereas lighting and fixtures contributed 286.81 crore during the quarter.
0Comments
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service