Havells India Q3 PAT rises 33% at Rs 118 cr
New Delhi: Electrical goods maker Havells India on Wednesday reported 32.58 percent increase in consolidated profit after tax at Rs 118 crore for the third quarter ended December 2012 on robust performance by all segments.
The company had posted a PAT of Rs 89 crore during the corresponding quarter previous year.
The consolidated net income during the third quarter also grew 9.34 percent to Rs 1,814 crore from Rs 1,659 crore in the year-ago period, Havells India said in a release.
Commenting on the results, Havells India Joint Managing Director Anil Rai Gupta 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, the company inaugurated the country's first large scale lighting fixture plant at Neemrana, Rajasthan, he added.
"With new product launches in consumer goods receiving good response, we are confident of maintaining growth momentum in the year ahead," Gupta said.
In October-December period last year, Havells India's switchgear sales grew 19 percent to Rs 270 crore from Rs 226 crore achieved in the same quarter of the previous year.
"The electronic, electrical consumer durables grew 47 percent with revenue of Rs 576 crore as against Rs 391 crore in the corresponding quarter of the previous year. The company's fan business registered a strong growth of 30 percent," the statement said.
Besides, the lighting and fixtures business grew by 20 percent to Rs 483 crore as against Rs 403 crore, while the domestic cable segment showed an increase of 27 percent.
During the third quarter, the company expanded Havells Galaxy chain by opening 12 more stores across India, taking the total such outlets to 189.
Shares of Havells India were trading 0.89 percent down at Rs 658.90 apiece on the BSE in afternoon trade.