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Buoyed by a strong showing by its cables and lighting businesses, Havells India Ltd reported an 8 per cent increase in standalone net profit for the quarter ended June 30, 2011 at Rs 57.50 crore. Net Income of the electrical and power distribution equipment manufacturer grew by 16 per cent to Rs 800 crore.
On a consolidated basis, the company's net profit grew by 43 per cent to Rs 80 crore for the period ended June 30, mainly riding on the success of the restructuring exercise at its European subsidiary Sylvania. Net income grew by 15 per cent to Rs 1,496 crore during the first quarter ended June 30, 2011.
Sylvania recast
“Successful restructuring exercise of Sylvania has already started bearing fruits as we have already started shifting our manufacturing base for Sylvania to India and increase sourcing of lighting products from India,” the company said.
The Havells share dipped over 2 per cent to close Monday's trade on the BSE at Rs 354.50. The 52-week high for the stock was Rs 451.25 while the corresponding low was Rs 290.10.
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