Havells India YoY adex up 38%; 108% rise QoQ in Q3 FY24

Havells India’s ad spends were up 38% to Rs 176.34 crore in Q3 of FY24. Its ad spending was Rs 127.82 crore in the corresponding quarter of the previous year.

The consumer electrical goods maker’s QoQ advertising expenditure rose by 108%. Its adex was Rs 84.63 crore during the quarter ending September 30, 2023.

Havells said that its advertising and sales promotion spends were higher in Q3 due to the festive season in the December quarter.

The company reported a marginal 1.54% rise in its consolidated net profit to Rs 287.91 crore for the third quarter ended December 2023.

The company had posted a consolidated net profit of Rs 283.52 crore in the October-December quarter a year ago, according to a regulatory filing from Havells India.

Its revenue from operations increased 6.93% to Rs 4,413.86 crore during the period under review. It was Rs 4,127.57 crore in the corresponding quarter last fiscal.

Havells India's total expenses rose 7.74% to Rs 4,079.02 crore in the December quarter.

The total income inched up 7.26% at Rs 4,469.75 crore.

During the quarter, "consumer demand continues to be subdued, though recent trends suggest some recovery", said Havells in an earning presentation.

Havells' revenue from the switchgear segment in the December quarter rose 1.21% to Rs 520.58 crore.

Its revenue from cables segment surged 11.36% to Rs 1,572.69 crore against Rs 141,214 crore a year ago.

Revenue from lighting and fixtures was up 2.44% at Rs 433.50 crore in the December quarter.

Electrical consumer durables (ECD) increased slightly by 2.75% to Rs 961.53 crore in the third quarter of FY24.

Revenue from Lloyd Consumer, which Havells acquired in 2017, rose 7.5% to Rs 656.10 crore.

Revenue from ‘Other Segment’ surged 16.21% to Rs 269.46 crore in the December 2023 quarter.

Info@BestMediaInfo.com