Havells Q3 net profit drops 3% to Rs 278 crore, dividend of Rs 4 declared

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Havells India  reported net profit of Rs 278 crore in Q3FY25, a fall of 3% from Rs 287.91 crore net profit which the firm had reported for the same quarter (Q3) of the previous financial year (FY 24).

The firm's revenue from operations, however, rose 10% to Rs 4,888.98 crore revenue in Q3FY25 from Rs 4,413.86 crore reported in Q3 FY 24.

Havells also saw a rise in its total expense, which touched Rs 4,575.97 crore in Q3FY25. This is over 12% higher than the Rs 4,079.02 expense the company had reported in Q3FY24.

The company also announced an interim dividend of Rs 4 per equity share. It will be given to shareholders of the company as on the record date of January 22. The dividend shall be paid to the eligible shareholders of the company on or before February 14.

The shares of the company had closed 1.94% higher at Rs 1,557.30 on January 16.

Havells further said that it has fully settled insurance claim over loss of property, plant and equipment incurred after a fire broke out at its plant in Neemrana, Rajasthan in July 2022. “As at March 31, 2024, the claim recoverable was Rs 15.79 crores against which the Group has received Rs 32.84 crores, being reinstatement value of property, plant and equipment, from the insurance company,” it said.

The massive fire, which had broken out at the manufacturing unit, didn’t cause any loss of lives. Havells earlier too had said that all its assets affected in the fire were insured.