Havells India Q2 jumps 22 pct

Havells India announced its Q2 results for FY2009-10 with a 22 per cent jump in profit after tax.

Electrical and power distribution equipment manufacturer Havells India Ltd on Wednesday announced its Q2 results for FY2009-10 with a 22 per cent jump in profit after tax.

Net revenue during the quarter increased by 2 per cent to Rs 596.40 crore as against Rs 585.30 crore during the corresponding quarter of the previous year. PAT increased by 22 per cent to Rs 54.20 crore in the present quarter as against Rs. 44.30 crore reported in the corresponding quarter of the previous year.

The earning before interest,depreciation and tax increased by 32 per cent to Rs 79.70 crore as compared to Rs.60.40 crore in the corresponding quarter.

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The performance of the switchgear sales showed a growth of 7 per cent to Rs.174.90 crore while the cable and wire business segment was at Rs 242.70 crore.

Reflecting on the performance,Anil Gupta,Joint MD,Havells India,said: ‘In the present quarter,we witnessed a strong bottom line growth on the back of higher operating margins led by cost reduction and price stabilization. We are confident to deliver continued superior performance across the product range and geographic locations going forward.