Havells India Ltd on Wednesday reported an increase of 1.57 per cent in its consolidated net profit at ₹358.04 crore for the fourth quarter ended on March 31, 2023.

The consumer electrical goods maker company had posted a consolidated net profit of ₹352.48 crore in the January-March quarter a year ago.

Havells' revenue from operations rose by 9.78 per cent to ₹4,859.21 crore during the period as against ₹4,426.26 crore in the corresponding period last fiscal.

Its total expenses were at ₹4,419.23 crore, up 10.58 per cent in Q4/FY23, as against ₹3,996.12 crore a year ago.

Havells India Chairman and Managing Director Anil Rai Gupta said there is "moderate revenue growth amidst sluggish consumer demand environment. While business and consumers contend with persistent inflation, we are optimistic about opportunities ahead and confident of capitalising on the same." In the March quarter, Havells' revenue from the Switchgears segment was ₹601.03 crore and from the cables segment it was ₹1,568.15 crore.

Havells' revenue from lighting and fixtures in the fourth quarter of FY23 was at ₹415.95 crore. Its revenue from Electrical Consumer Durables was at ₹749.45 crore.

Revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was at ₹1,271.02 crore.

Meanwhile, in a separate filing, Havells India said its board also recommended a final dividend of ₹4.50 per equity share of Re 1 each for the financial year 2022-23.

For the financial year ended March 2023, Havells' net profit declined 10.42 per cent to ₹1,071.73 crore. It was ₹1,196.47 crore in FY22.

However, its revenue for operation in FY23 increased 21.32 per cent to ₹16,910.73 crore, against ₹13,938.48 crore a year ago.

Shares of Havells India Ltd on Wednesday settled at Rs ₹1,241.25 apiece on BSE, up 1.26 per cent.

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