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Consumer electrical goods maker Havells India on Monday said its standalone net profit grew by 17 per cent to ₹171.02 crore for the quarter ended September 30, 2017. It had posted a standalone net profit of ₹145.79 crore in the corresponding quarter of the previous fiscal.
Net sales during the quarter stood at ₹1,777.36 crore against ₹ 1,559.33 crore in the year-ago period, it said in a BSE filing.
In a statement, Anil Rai Gupta, Chairman and Managing Director, said: “GST with high tax rates on electrical products continues to disrupt demand scenario with muted consumer offtake and delayed restocking at channel.
The GST transition has been well consummated at dealer and vendor platform. We remain cautiously positive on growth in forthcoming period”. Our Bureau
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