Kindly note that Havells India made a growth of 33 percent in the second quarter of the current fiscal year. The home appliances manufacturing company reported its growth on Thursday, October 19, 2023. It is said that the main reason for Havells India’s significant growth in Q2Fy24 was the increasing demand for the cables due to sustained infrastructure spending and the sales of air-conditioners boosted this summer. As a result, Havells India reported a rise of 33 percent. If you are scrambling to know the profit of Havells India for the September quarter and net profit during this period, you need to go through this article till the end. Shift to the following sections and find out more details.
Havells India Q2 Results 2023
In the second quarter of the current fiscal year, Havells India reported a 33 percent higher profit on Thursday, October 19, 2023. As mentioned, the higher demand for cables and boost in sales of Air-Conditioner during the summer season this year. For the September quarter, the home appliance maker made a profit of Rs 2.49 billion or $29.92 million. Do you know what the profit of Havells India was for the corresponding period last year? Shift to the following section and know more.
Reportedly, the profit of Havells India for the second quarter last year was 1.87 million. While this year, the home appliance manufacturer Havells India’s profit surged to Rs 2.49 billion. The Havells India Q2 results show the profit surged by 6 percent which is Rs 38.91 billion. Analysts and market experts have anticipated strong growth in the cables due to boosting demand from the housing and infrastructure sectors. Notably, the largest segment of Havells India in terms of revenue is the cables segment which doubled its profit to Rs 1.71 billion. Swipe down the page and read more details.
Nevertheless, the Lloyd consumer segment also benefitted from the boosted sales of air-conditioners due to warmth in the air and dry weather during the September quarter. Talking about Lloyd’s second quarter result, it incurred a loss of Rs733 million which was Rs832.9 million for the same period during the last year. Havells India flagged softness in consumer demand. However, it is expecting an uptick in the festival season during the third quarter quarter. The shares of Havells India closed 1.7 percent higher at Rs 1,362.7 ahead of quarterly results. The company witnessed a 33 percent spike in its net profit on the strong growth of air-conditioner and cable sales. Stay tuned.