"We are encouraged with the pace and extent of demand recovery. Consumer & Residential demand is robust, however Industrial & Infrastructure sales remain sluggish though trending towards a gradual recovery," Havells India Chairman and Managing Director Anil Rai Gupta said.
He further noted that "our initiatives in rural, online and channel engagement have well delivered," he added.
Havells total expenses were at Rs 2,113.92 crore, as against Rs 2,055.55 crore, up 2.83 per cent.
Revenue from switchgears segment was Rs 370.27 crore, up 1.77 per cent as against Rs 363.83 crore in the year-ago period.
However, revenue from its cables segment was down 4.46 per cent to Rs 784.67 crore, as against Rs 821.31 crore of Q2/FY 2019-20.
Havells' revenue from lighting and fixtures in the July-September quarter was up 6.50 per cent to Rs 272.30 crore, against Rs 255.67 crore in the corresponding quarter of the previous year.
While Electrical consumer durables (ECD) was up 18.29 per cent to Rs 579.87 crore, as against Rs 490.21 crore in the year-ago period.
"Consumer and Residential portfolios registered mid-teens growth across segments, ECD being the bellwether. Consumer lighting was beneficiary of Rural Vistaar and deeper distribution," Havells said in its post result investor's presentation.
Revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was up 55.84 per cent to Rs 280.44 crore during July-September quarter, as against Rs 179.95 crore.
"ACs led the growth in Lloyd, supported by washing machines and recently launched refrigerators," the company said.
Over the ongoing festival season, Gupta said it seems to be evolving "decently", though COVID development needs to be observed for sustenance.
"We welcome the recent impetus to Aatmanirbhar Bharat' with prohibition on AC import. It augurs well for integrated manufacturers like Lloyd, he said.
Shares of Havells India Ltd closed at Rs 725.05 on BSE, down 0.44 per cent from its previous close.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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