Havells India Q1 net falls

Havells India Ltd appears to have been hit by the slowdown in Europe as the company posted a dip in its net profit for the quarter ended June 30 at Rs 71.3 crore against Rs 79.7 crore in the same quarter previous year. According to the company, the slowdown in Europe and general volatility in Latin America, including Brazil, Argentina and Columbia has affected the margins. However, the company posted a 19 per cent growth in its consolidated net income at Rs 1,778 crore for the first quarter of the 2012-13 fiscal.