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Havells India Ltd reported a standalone net profit of ₹234 crore for the first quarter ended June 30, substantially higher than ₹63 crore recorded in the corresponding quarter of the previous fiscal.
Net revenue on a standalone basis, for the quarter under review, grew 76 per cent to ₹2,598 crore compared to the same period last fiscal.
The company said sales were impacted due to the second Covid wave and the year-on-year growth was robust albeit on a lower base.
Anil Rai Gupta, Chairman and Managing Director, Havells India Limited, said, “Despite a truncated quarter, overall performance has been encouraging across segments. The demand has been resilient and we expect further improvement as Covid restrictions are progressively lifted.”
While the company’s switchgear business grew 96 per cent to ₹374 crore, electrical consumer durables grew 91 per cent to ₹576 crore.
“Lloyd consumer business grew 61 per cent to ₹494 crore against ₹306 crore in Q1 FY21,” the company added.
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