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Posted on Jan 23, 05:14PM | IBNS
Havells India Limited, a USD 1.3 billion leading Fast Moving Electrical Goods (FMEG) company, on Wednesday announced its third quarter performance ended 31st December, 2012.
Q3 Standalone Performance
· Net Income grew by 18pc to Rs. 1,058 crore during the third quarter ended December 31, 2012 compared to Rs. 896 crore in the corresponding quarter ended December 31, 2011.
Growth In revenue has come from new product launches in switchgear and electrical consumer goods segments.
· During the period under review EBIDTA grew by 11pc to Rs. 140 crore as against Rs. 126 crore in the corresponding quarter previous year.
· Net Profit grew by 20pc to Rs. 95 crore for the period ended December 31, 2012 compared to Rs. 79 crore during the similar period.
Q3 Consolidated Performance
· Net Income grew by 9pc to Rs. 1,814 crore during the third quarter ended December 31, 2012 compared to Rs. 1,659 crore in the corresponding quarter ended December 31, 2011.
· PAT grew by 33pc to Rs. 118 crore for the period ended December 31, 2012 compared to Rs. 89 crore in the corresponding quarter previous year.
Nine month standalone performance
· Net income grew by 19pc to Rs. 3,055 crore as compared to Rs. 2,569 crore of the corresponding period of last year.
· PAT grew by 22pc at Rs. 262 crore as compared to Rs. 214 crore of the corresponding period of the last year.
· The advertisement and sales promotion expenses during nine months were 3.8pc at Rs. 78.4 crore as compared to 3.2 pc at Rs. 55.9 crore in corresponding period last year.
Commenting on the financial performance, Anil Rai Gupta, Joint Managing Director (JMD), Havells India Limited 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. During the quarter, we inaugurated India's first large scale lighting plant.
"With new product launches in consumer goods receiving good response, we are confident of maintaining growth momentum in the year ahead."
· The performance of the switchgear sales showed a growth of 19pc to Rs. 270 crore from Rs. 226crore achieved in the corresponding quarter of the previous year.
· The electronic, electrical consumer durables grew 47pc with revenue of Rs. 576 crore as against Rs. 391 crore in the corresponding quarter of the previous year. Company's Fan business registered a strong growth of 30pc .
· The lighting and fixtures business grew by 20pc to Rs. 483 crore as against Rs. 403 crore
· The domestic cable segment showed a growth of 27pc
· During the quarter, company inaugurated India's first large scale Lighting Fixture plant at Neemrana, Rajasthan.
· Launched a new range of high-end switches under its premium brand Crabtree called 'Murano'
· Launched a new range of premium domestic appliances
· Expanded Havells Galaxy chain by opening 12 more stores across India taking the total galaxy figure to 189 galaxy
· The contribution margins improved from 20.6pc to 21.7pc from Q2FY13 to Q3FY13 consistent with the margins of Q3FY12 of 21.7pc