Havells Q3 net profit surges 74.5% YoY on consumer business growth
Havells' backed Lloyd saw its revenue grow by 70.2 percent YoY to Rs 511.56 crore in the third quarter. This was on the back of its entry into the refrigerator segment in the country. Havells has also declared an interim dividend of Rs 3 per equity share.
January 20, 2021 / 06:10 PM IST
Electrical goods firm Havells posted a 74.5 percent year-on-year (YoY) growth in its Q3FY21 (December quarter) consolidated net profit at Rs 350.14 crore.
This was on the back of a strong growth in its topline, lead by Lloyd, electrical consumer durables and switchgears business.
Total income grew by 40 percent YoY in Q3 to Rs 3,214.24 crore. Meanwhile, Lloyd revenue grew by 70.2 percent YoY to Rs 511.56 crore in the third quarter.
Havells-backed Lloyd, widely known for its air-conditioners, entered the refrigerator category at the end of September 2020.
Among the other business segments, switchgears saw a 32 percent YoY growth to Rs 437 crore in Q3. Electrical consumer durables saw a 46 percent YoY growth to Rs 783 crore. Lighting/fixtures business saw a 28 percent Yo growth to Rs 353 crore.
The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin improved to 16 percent in Q3FY21 compared to 11.8 percent in the year-ago period.
This is because EBITDA grew to Rs 508 crore in Q3, showing an 89 percent YoY growth.
In its investor presentation, Havells said that the encouraging business performance with growth across divisions and regions led by an improvement in consumer sentiment and festive season.
It added that there was an increased penetration in smaller towns and a higher rural reach. The supply chain disruption faced by suppliers with high import dependence have further supported market share gains, added the company.
Havells has also declared an interim dividend of Rs 3 per equity share. This will be payable to all those shareholders whose names appear in the register of members as on January 21, 2021.