The Hindu Business Line : Electrical consumer durables, cable biz drive Havell’s Q4 net up 34%

New Delhi, May 22 A robust showing by its electrical consumer durables and cable segments has helped electrical equipment company Havell’s India Ltd report a 34 per cent jump in net profit and a 25 per cent increase in topline during the January-March quarter of 2007-08.

During the latest reported quarter, the company’s switchgear sales showed a growth of 15 per cent to Rs 131 crore, the cable and wire business segment clocked a growth of 28 per cent to touch Rs 254 crore. The company saw a 24 per cent growth in the lighting and fixtures segment at Rs 76 crore and a 37 per cent jump in sales in the electrical consumer durables segment at Rs 74 crore.

For the financial year 2007-08, net profit increased by 41 per cent to Rs 144 crore against Rs 102 crore reported in the previous year. Net revenue during the full financial year increased 33 per cent to Rs 2,055 crore, as against Rs 1,547 crore during the previous year.

Growth push

Speaking about the performance, Mr Anil Gupta, Joint Managing Director, Havell’s India, said: “We have had a significant performance on the back of strong growth witnessed in both the domestic and international arena… We expect a healthy performance in the coming times to enhance the wealth of our varied stakeholders groups.”

The Havell’s stock closed 2.01 per cent down at Rs 479.65 on the BSE on Thursday.

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