Havells India Q4 Profit Beats Estimates on Strong Pre-Summer AC Demand
- brg_news_room
- 18 minutes ago
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India: Havells India reported a profit of 5.18 billion rupees (approximately USD 60.8 million) for the quarter ended 31 March, representing an increase of nearly 16 percent compared to the same period last year. The result exceeded analysts’ expectations, which had projected a profit of 4.67 billion rupees (approximately USD 56.3 million). The company's revenue from operations also rose, reaching 65.44 billion rupees (approximately USD 788.5 million), up 20.2 percent year-on-year, surpassing estimates of 62.32 billion rupees (approximately USD 750.9 million).
The growth was primarily supported by higher demand for air conditioners ahead of the summer season. Sales of the company’s appliances brand Lloyd, which includes air conditioners and washing machines, increased by nearly 40 percent during the quarter. Lloyd derives most of its revenue from air conditioners. The wires and cables segment, Havells' largest, also recorded a revenue growth of 21.2 percent year-on-year, aided by stable copper prices and increased production capacity.
Source: Business Standard
