Havells India’s Q3FY22 net profits fall 12%

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Electrical appliance maker Havells India reported net profits of Rs 306 crore during Q3FY22, down 12.3 per cent as compared with the same quarter last fiscal.

During Q3FY21, the net profits were Rs 346 crore.

Combining all the three quarters of FY22, net profits, however, rose by 14 per cent to Rs 842 crore. Net revenue during the quarter grew by 15 per cent to Rs 3,652 crore as against Rs 3,166 crore reported in the same period last fiscal.

Further, EBITDA during the quarter fell 13.4 per cent year-on-year to Rs 440 crore.

On the business side, switchgears, cables, lighting and fixtures, electrical consumer durables and other verticals grew year-on-year, the company said in the earnings statement on Thursday.

Chairman and Managing Director Anil Rai Gupta said: “Festive demand was encouraging. Last few weeks have seen the return of Covid led to anxiety in the demand markets but it seems that recovery could be swift.”

The company remains “positive on demand resilience”, he added.

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