Havells India on October 17 reported 9.5% increase in net profit at Rs 273 crore for the quarter ended September 30, 2024 as compared to Rs 249 crore in the year-ago period.
The company's revenue from operations rose 16% to Rs 4,533 crore in Q2FY25 as against Rs 3,891 crore in Q2FY24.
EBITDA stands at Rs 380 crores in Q2, a 1.7 percent growth YoY. According to the company's regulatory filing, high volatility in commodity prices impacted contribution margins, particularly in cable segment.
Decent growth in switches and domestic switchgear, however industrial switchgear (IP) growth
impacted by higher base due to large institutional orders last year. The switchgear segment reported revenue of Rs 551 crore rising four percent year-on-year in Q2FY25.
Strong volume growth in the Cable segment was predominantly driven by wire, which was also aided by spillover from Q1 destocking, as per the investor presentation. The Cable segment saw a 23 percent year-on-year growth in revenue in Q2 FY25 at Rs 1,805 crore.
Robust volume growth sustained in Lighting, the pricing gradually stabilising.
"Broad-based performance in ECD as festive led demand pickup supported fans, SDA & water heater growth. Festive season shift led to the advancement of A&P spending to Q2," noted the investor presentation.
At 2:50 pm on October 17, Havells India shares were trading 4% lower at Rs 1,859 apiece.
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