Havells Posts Three-Fold Jump In Q4 Profit
Electrical goods maker Havells India has reported a three-fold jump in standalone net profit at Rs 366.49 crore for the quarter ended March 31, 2016, on account of revenue and profitability growth. The company had posted a net profit of Rs 121.85 crore for the corresponding period a year ago, it said in a filing to the BSE. Its net sales on standalone basis during the quarter under review was Rs 1,463.36 crore, up 9.23 per cent as against Rs 1,339.69 crore during the year-ago period. "The performance in March quarter underlines an encouraging trend of positive revenue and profitability growth. We have implemented several structural decisions which should support growth going forward as well," Havells India CMD Anil Rai Gupta said. Revenue from switch-gears was up 7.09 per cent at Rs 327.23 crore as against Rs 305.54 crore in the year-ago period. Earnings from cable went up 7.02 per cent to Rs 609.00 as compared to Rs 569.04 crore a year ago. During the period under review, revenue from the lighting and fixtures segment was up 23.32 per cent at Rs 231.82 crore from Rs 187.98 crore, while revenue of the electric consumer durables segment rose 7.20 per cent to Rs 307.39 crore. For the entire fiscal year 2015-16, the company's net profit was up 53.85 per cent at Rs 715.35 crore as against Rs 464.94 crore in the previous fiscal year. Net sales was up 3.83 per cent at Rs 5,395.14 crore in the fiscal year as compared to Rs 5,196.08 crore in 2014-15. “The company has divested its 80 per cent stake in Sylvania Malta and Havells Exim, through which it has made a profit of Rs 202.39 crore,” reported by PTI. "Net profit for 2015-16 before exceptional item grew by 10 per cent to Rs 513 crore as compared to Rs 465 crore in the corresponding quarter of previous financial year. The exceptional item of Rs 202 crore is the result of profit on 80 per cent stake sale in Sylvania," the company said. Meanwhile, in a separate filing, Havells India informed that its board has recommended a dividend of Rs 3 per equity share of Re 1 each. This is in addition to interim dividend of Rs 3 per equity share already paid in February 2016 amounting to a total dividend of Rs 6 per equity share which is 600 per cent for 2015-16. Shares in Havells India, on Wednesday, ended 1.56 per cent lower at Rs 341.00 apiece on the BSE, whose benchmark Sensex index finished down 0.68 per cent.
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