Havells India Q4 net profit rises

Havells India Q4 net profit rises

Havells India share price was trading lower by over 3% on Friday despite reporting rise in fiscal fourth quarter net profit.
The electrical goods major posted a 71% year-on-year (YoY) increase in its March quarter (Q4) consolidated net profit at Rs 303.83 crore.
The total income for Q4 was up 50.8 percent at Rs 3,375.87 crore. The company said in its investor presentation that Q4 sustained the growth momentum gained in Q3 with the highest quarterly sales.

Among the different segments, electrical consumer durables segment saw a 71% YoY growth in revenue to Rs 712 crore in Q4. Cables business saw 51% revenue growth to Rs 1,029 crore.
Lloyd saw a 29 percent YoY growth in revenue to Rs 591 crore in Q4. The growth has been across segments with consumer products still leading the pack.
The Havells board has recommended a final dividend at Rs 3.50 per equity share for the financial year 2020-21. This is subject to shareholder approval at its annual general meeting on June 30.

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