Havells India posts 36% rise in net profit

New Delhi, July 23 (IANS) Electricals major Havells India on Saturday said its net profit rose 36 percent to Rs 145.6 crore in the quarter ended June 30, 2016 as compared to Rs 106.8 crore in the corresponding period last year.

Net revenue grew 17 percent in the quarter under review to Rs 1,386.3 crore as compared to Rs 1,188.2 crore in the corresponding period last year, while export revenue increased by 25 percent to Rs 80.5 crore, it said in a filing to Bombay Stock Exchange.

Total income has increased from Rs 1,269.3 crore for the quarter ended June 30, 2015 to Rs 1,497.49 crore for the quarter ended June 30, 2016.

“During the quarter, the company has further invested Rs.10.67 crores to acquire additional 17.74 per cent stake in its subsidiary company, Promptec Renewable Energy Solutions Private Limited,” it said in the filing.

–IANS

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