Havells, the consumer electrical goods maker in India reported a standalone net profit to Rs. 178 crores for the second quarter ended September 30, 2018, post 4.44 per cent rise in year-on-year basis. The company had earlier registered a net profit of Rs 171 crores for the corresponding period a year ago.

Havells India said in a filing to BSE, Standalone revenue from operations during the quarter under review stood at Rs 2190 crores resulting in a 23.3 per cent increase as against Rs 1777 crores in September-end quarter of 2017.

The operating profit or EBITDA was up 2 per cent at Rs 262.5 crore versus Rs 257 crore, while EBITDA margin was at 12 per cent versus 14.4 per cent.

Anil Rai Gupta, Havells India Chairman and MD, said: “We are encouraged with second quarter performance delivering growth across categories, channels and territories. Lloyd had a muted quarter owing to an adverse season, channel inventory and forex headwinds.”

Gupta also added, “The demand scenario has improved and we believe that Havells is well positioned to gain from emerging trend.”

During the quarter, the company has Invested Rs 16.66 crore to acquire remaining 31.08 per cent shareholding in its subsidiary company Promptec Renewable Energy Solution. Promptec has become a wholly owned subsidiary of the company.

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