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Havells India Ltd, an electrical goods major, saw a growth of 299 per cent in its profit-after-tax, due to one-time exceptional income as per the settlement agreement with Osram Sylvania Inc. and Osram AG.
The $1.3-billion company registered a 7 per cent growth in net income to Rs 1,699 crore in the quarter ended September 30, 2012.
All business segments of the firm saw healthy growth during the second quarter except for industrial cable division which was hit by slowdown. Domestic cable segment registered a growth of 42 per cent.
During the quarter, the company had launched a new range of domestic appliances and opened 30 more stores across India. It also invested Rs 6.1 cr in Jiangsu Havells Sylvania Lighting Co. Ltd, China.
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