Havells India has reported a 24 per cent year-on-year revenue growth in its cables business during the first quarter (Q1: April to June) of FY24.
In a release, Havells India said that revenues from its cables business, at Rs.1,485 crore in Q1 of FY24, were 24 per cent higher than the Rs.1,193 crore in Q1 of FY23.
Here are highlights of some other business segments:
- The switchgear business grew by 5 per cent to Rs.541 crore in Q1 of FY24 as against Rs.517 crore in the corresponding quarter of FY23.
- Lighting and Fixtures business was at Rs.367 crore in Q1 of FY24 as against Rs.371 crore in Q1 of FY23.
Deflationary trend in LED impacted consumer lighting revenues where there was healthy growth in professional lighting, Havells India said.
B2B has grown well
Commenting on the financial performance Anil Rai Gupta, Chairman & Managing Director, Havells India Ltd, said, “Consumer demand has been muted and unseasonal weather has impacted the B2C businesses. Demand lately seems to be improving. B2B and Lloyd have grown well.”
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Featured photograph shows Havells India’s manufacturing plant at Baddi in Himachal Pradesh. Set up in 2004, this unit manufactures switches and MCBs.
