Business

Havells India Reports 33% Profit Surge in Q2, Fueled by Cable and AC Sales

Optimistic Outlook for Havells India as Festival Season Nears

Havells India disclosed a robust 33% increase in second-quarter profits, citing sustained cable demand and a surge in air-conditioner sales triggered by dry weather. However, the reported profit of 2.49 billion rupees ($29.92 million) fell short of analysts’ expectations, as per LSEG data, which had predicted 2.87 billion rupees.

During this period, the revenue for the quarter also climbed by 6%, reaching 38.91 billion rupees. Industry experts had foreseen substantial growth in the cables and wires sector, owing to a healthy demand from the housing and infrastructure domains.

The cables segment, Havells India’s primary revenue contributor, doubled its pre-tax profit, totalling 1.71 billion rupees. Meanwhile, the Lloyd consumer segment experienced an uptick in air-conditioner sales, primarily due to uncharacteristically dry weather throughout the quarter. In a notable improvement, the Lloyd segment reported a reduced loss of 733.1 million rupees compared to the previous year’s 832.9 million rupees.

Havells India acknowledged a minor dip in consumer demand but anticipates a revival during the upcoming festival season in this quarter. The company’s shares closed at 1,362.7 rupees, marking a 1.7% increase before the release of the quarterly results.

Akshay Kumar

Akshay Kumar is a dedicated and accomplished Business Reporter at IndiaFocus. With a passion for financial markets and corporate developments, Akshay brings experience and insight to his reporting. His extensive… More »

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