New Delhi: Consumer electrical goods maker Havells India on Tuesday posted 2.81 per cent increase in its consolidated net profit at Rs 201.22 crore for the quarter ended December 31, 2019.
The company had reported a net profit of Rs 195.72 crore during the October-December period of 2018-19.
Total income, however, declined to Rs 2,298.39 crore as compared with Rs 2,553.85 crore in the year-ago period, Havells India said in a regulatory filing.
Commenting on the quarter results, Havells India Chairman and Managing Director Anil Rai Gupta said the slowdown in industrial products impacted company’s sales while the consumer segment remained stable.
“Contribution margins have improved marginally. There have been certain improvements in consumer demand and with low channel inventory, we expect better prospects in further quarters,” he added. PTI
Shares of the company on Tuesday ended 1.35 per cent down at Rs 616.9 on the BSE.
Source: Economic Times