Havells India Q1 PAT rises 4% YoY to Rs 242 cr

Havells India reported 3.5% rise in standalone net profit to Rs 242.43 crore on 62.8% surge in net sales to Rs 4,230.14 crore in Q1 FY23 over Q1 FY22.

Profit before tax stood at Rs 326.55 crore in Q1 FY23, up 3.7% from Rs 314.77 crore posted in Q1 FY232. Total expenses spiked 70.46% to Rs 3,950.57 crore in Q1 FY23 over Q1 FY22.

EBITDA increased by 2% to Rs 361 crore in Q1 FY23 from Rs 353 crore reported in the same period a year ago. EBITDA margin stood at 8.5% in Q1 FY23 from 13.6% posted in Q1 FY22.

On the segmental revenue front, income from the switchgears segment came at Rs 516.67 crore, up 38.36% year on year (YoY). The FMEG company said that the renewed construction cycle is supporting switchgear sales.

Revenue from cables segment stood at Rs 1,192.92 crore in Q1 FY23, rising 47.79% as compared to Rs 807.17 crore recorded in the corresponding quarter last year. Revenue from lighting and fixtures soared 76.81% to Rs 371.12 in Q1 FY23 crore as against Rs 209.90 crore in Q1 FY22.

Meanwhile, Electrical consumer durables (ECD) revenue was up 45.51% to Rs 838.12 crore in Q1 FY23 from Rs 575.98 crore reported in the year-ago period. Revenue from Lloyd surged 119.18% YoY to Rs 1,083.71 crore in Q1 FY23 as compared to Rs 494.43 crore recorded in Q1 FY22.

On consolidated basis, the company's net profit rose 3.1% to Rs 243.16 crore on 62.6% increase in net sales to Rs 4,244.46 crore in Q1 FY23 over Q1 FY22.

Havells India is a leading fast moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence.

Shares of Havells India were up 0.54% to Rs 1,230 on the BSE.

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