Havells India Net Profit Rises In Q3

Consumer electrical goods maker Havells India today reported a standalone net profit at Rs 194.36 crore for the quarter end in December 2017.

The company had posted a net profit at Rs 152.97 crore during the October-December quarter of the previous fiscal.

Total income during the quarter under review stood at Rs 1,993.53 crore. It was Rs 1,650.68 crore in the year-ago period.

The company said the results are not comparable with previous period as it had acquired consumer durable business of LEEL Electricals Ltd in May last year.

Havells India Chairman and Managing Director, Anil Rai Gupta said "We expect that rationalisation of GST rates for electrical product categories would trigger positive sentiments amongst consumers. We are optimistic on growth going forward.”

Revenue from switchgear division was Rs 344 crore during the quarter as against Rs 331 crore in the third quarter of the financial year 2016-17.

The cable division grew to Rs 626 crore in the quarter as compared to Rs 609 crore in the corresponding quarter of last year.