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Havells Q2 Net Revenue up by 13pc

Posted on Oct 30, 03:17PM | IBNS

Havells India Limited, a USD 1.3 billion leading Fast Moving Electrical Goods (FMEG) company, announced its second quarter performance ended 30th September, 2012.

Q2 Standalone Performance

Net Income grew by 13pc to Rs 964 crore during the second quarter ended September 30, 2012 compared to Rs 850 crore in the corresponding quarter ended September 30, 2011.

Income was impacted due to slower growth in industrial cable division, given the slowdown in industrial and commercial activities. But for slower growth in industrial cable division, net income would have grown 24pc .

During the period under review EBIDTA grew by 3pc to Rs 119 crore as against Rs 115 crore in the corresponding quarter previous year ended September 30, 2011. These margins were impacted on higher advertisement and sales promotion expenses in the quarter.

Net Profit grew by 24pc to Rs 87 crore for the period ended September 30, 2012 compared to Rs 70 crore in the corresponding quarter previous year.

Q2 Consolidated Performance

Net Income grew by 7pc to Rs 1, 699 crore during the Second quarter ended September 30, 2012 compared to Rs 1, 585 crore in the corresponding quarter ended September 30, 2011.

PAT grew by 299pc due to a one time exceptional income as per the settlement agreement with Osram Sylvania Inc. and Osram AG

Half yearly standalone performance

Net income grew by 19pc to Rs.1,997 crore as compared to Rs.1,673 crore of the corresponding period of last year.

PAT grew by 24pc at Rs.167 crore as compared to Rs.135 crore of the corresponding period of the last year.

Commenting on the financial performance, Anil Gupta, Joint Managing Director (JMD), Havells India Limited said, "Our results are in line with our expectations. This quarter has seen significant jump in our profitability on consolidated basis due to settlement agreement with Osram."

The company said all business segments have shown healthy growth during the second quarter except for industrial cable division which has been hit due to slower industrial and commercial activities.

On the other hand domestic cable segment has registered a growth of 42pc . Similarly Electrical consumer division has grown by 33pc this quarter.

Sales of switchgear division rose 15pc to Rs 255 crore as against Rs 222 crore last year.

Lighting and Fixtures division grew by 14pc at 156 cr as compared to Rs 137 cr the corresponding quarter of the previous year.