However, revenue from operations rose 11% YoY to Rs 4,882.50 crore in the quarter ended 31 December 2024.
Profit before tax stood at Rs 382.19 crore in the third quarter of FY25, down 2.2% YoY from Rs 390.69 crore reported in same quarter last year.
In the December 2024 quarter, EBITDA shed marginally to Rs 432 crore as compared to Rs 433 crore in Q3 FY24. The EBITDA margin also decreased to 8.8%, down from 9.8% in the same period last year.
Revenue from electrical consumer durables stood at Rs 1,104 crore (up 14.9% YoY), switchgear revenue stood at Rs 577 crore (up 10.8% YoY), cable business revenue was at Rs 1,688 crore (up 7.3% YoY), lighting & fixtures revenue stood at Rs 441 crore (up 2.5% YoY) and other revenue was at Rs 331 crore (up 22.8% YoY) during the period under review.
Revenue from Lloyd Consumer rose 14.7% YoY to Rs 742 crore in the quarter ended 31 December 2024.
Havells highlighted that growth in the domestic switchgear segment was driven by the real estate and project business, although industrial switchgear (IP) remained soft. The company experienced strong growth in power cables, with the Tumkur plant, currently in the ramp-up stage, contributing positively to growth. However, softness in copper prices led to channel destocking in wires, impacting revenues.
In lighting, while there was decent volume growth, revenues were still pressured due to ongoing LED price deflation. The 'others' segment continued its growth momentum, and the quarter was steady for Lloyd.
On nine-month basis, the company's net profit jumped 17.3% to Rs 966.58 crore on 16% increase in revenue to Rs 15,213.60 crore in 9M FY25 over 9M FY24.
The company's board has declared an interim dividend of Rs 4 per equity share of Re 1 each on the company’s equity share capital. This dividend will be payable to all shareholders whose names appear in the register of members as of the record date 22 January 2025. The dividend will be paid or dispatched to shareholders on or before 14 February 2025, which is within 30 days from the date of its declaration.
Havells India is a leading fast-moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global presence.
The scrip shed 0.38% to currently trade at Rs 1,551.40 on the BSE.