Havells India Q1 net falls nearly 64% to Rs 64 crore

Havells India Ltd on Monday reported a 63.90 per cent fall in its consolidated net profit to Rs 63.98 crore for the June quarter due to lower income. The company had logged a net profit of Rs 177.23 crore in the April-June period a year ago, according to a regulatory filing.

Total income during the quarter declined 45.01 per cent to Rs 1,515.56 crore as against Rs 2,756.50 crore in the corresponding quarter of the previous year.

Havells India said the decrease in results is "primarily due to restriction of business activities caused due to COVID-19 pandemic during the current quarter".


"Demand markets were tepid initially, picked momentum in the later half of May. Demand pattern continues to be disrupted owing to local shutdowns/containment norms. We remain alert and agile to ground developments that are constantly evolving," Havells India Chairman and Managing Director Anil Rai Gupta said.

Shares of Havells were trading 0.98 per cent lower at Rs 601.30 apiece on BSE.