Electrical goods maker Havells India today reported a marginal increase in standalone net profit at Rs 120.72 crore for the second quarter ended September 30, mainly due to decline in sales in its major cable division.
The company had posted a net profit of Rs 119.61 crore for the same period of previous fiscal, Havells India Ltd said in a BSE filing.
Its net sales during July-September quarter declined 1.04 per cent to Rs 1,339.01 crore as compared to Rs 1,353.12 crore during the same period of 2014-15, it said.
"While there have been some positives in macro-economic environment in last one quarter, the growth revival in industrial and real estate segment is slow," said Havells India Chairman and MD Anil Rai Gupta.
Havells' revenue from cable segment was down 5 per cent to Rs 591.4 crore in the said quarter, while revenue from switchgears segment was down 1 per cent to Rs 338.7 crore.
Revenue from lighting & fixtures and electrical consumer durables was up 1 per cent and 6 per cent to Rs 193.6 crore and Rs 241.4 crore, respectively, during the quarter.
Over the outlook, Gupta said:"Our thrust on new product introduction and operational rationalisation will help our demand grow in next few quarters."
"We have seen better demand for LED products. This coupled with push from the government will help boost the market sentiment and further our growth avenues," he further added.
Shares of Havells India today closed 6.87 per cent up, at Rs 258.30 apiece on the BSE.
