Havells Q4 net profit falls 11% to Rs 121.85 crore

Electrical goods maker Havells India today reported 11 per cent decline in its standalone net profit at Rs 121.85 crore for the fourth quarter ended March 31, 2015.
The company had posted a standalone net profit of Rs 136.92 crore in the January-March period of the previous fiscal (2013-14), Havells said in a BSE filing.
However, the company's net sales on a standalone basis rose to Rs 1,339.69 crore for the fourth quarter, up 3.04 per cent compared to Rs 1,300.09 crore it posted during the same period of the previous financial year.
"Our growth this year has been almost the same as last year. We grew by 11 per cent and the macro environment has impacted both investment and industrial demand," Havells India Chairman and Managing Director Anil Rai Gupta said.

He further said that during the year, Havells focused on strengthening connect with channel partners, including last mile retailers and product portfolio rationalisation.
The company's revenue from switchgears declined 4.64 per cent to Rs 305.54 crore, while earnings from cable went up by 1.78 per cent to Rs 569.04 crore during the reported period as compared to Rs 320.41 crore and Rs 559.08 crore, respectively in the same period a year ago.

During the period under review, revenue from lighting and fixtures segment declined by 5.65 per cent to Rs 187.98 crore from Rs 199.25 crore while its electric consumer durables segment revenue was up by 23.98 per cent at Rs 286.73 crore from Rs 231.26 crore.

Over the future outlook, Gupta said: "We see some movement in the economic activity and expect investments in infrastructure and industrial areas to grow.
"Moreover, the government's focus on adopting newer and efficient technologies like LED will give impetus to our growth."
For the entire fiscal ended March 2015, the company's consolidated net profit declined 13.64 per cent to Rs 385.42 crore as against Rs 446.33 crore in the previous fiscal.
Havells' consolidated net sales were up 4.61 per cent to Rs 8,526.42 crore in 2014-15 from Rs 8,150.34 crore in 2013-14.
Meanwhile, in a separate filing, Havells India Ltd said that its board has recommended a dividend Rs 3 per equity share of Re 1 each for the financial year 2014-15.

Havells India shares were trading 3.43 per cent up at Rs 288.25 per scrip during pre-close session on the BSE.