Havells India Ltd posted a standalone net profit of ₹349 crore in the third quarter ended December 31, 2020, up nearly 75 per cent compared to ₹199 crore in the corresponding quarter in previous fiscal. The company’s standalone net revenues for the quarter grew by 39.5 per cent to ₹3,166 crore.
The company’s board has approved an interim dividend of ₹3 per equity share.
In a statement, Anil Rai Gupta, Chairman and Managing Director, Havells India Ltd, said, “We are enthused with the business performance. Growth has been secular across divisions and channels, predicated on improved consumer sentiments, expanding distribution network and festival season. Lloyd is consolidating its market position, growth is led by ACs and supported by washing machines and recently launched refrigerators.
Gupta added, “There is normalcy returning to residential demand markets with gradual pick-up in industrial and infra segment”.