Havell's India Q1 net rises 40 pc to Rs 31.6 crore

New Delhi, July 21: Havell's India Ltd posted 40 per cent surge in its net profit at Rs 31.6 crore for the first quarter ended June 30 after it acquired 100 per cent stake in SLI Sylvania business.

The net revenue has increased 39 per cent to Rs 474.10 crore.

''We have had a significant quarter with Sylvania acquisition, as well as major milestones achieved in the initiation of a successful integration process of our domestic and overseas business. We expect strong performance going forward as we are approaching the time to be able to fully leverage our envisioned business model,'' company's Joint Managing Director Anil Gupta said.

Havell's India is an electrical and power distribution equipment company engaged in the manufacturing of products ranging from building circuit protection, industrial and domestic switchgear, cables and wires, energy meters, etc.

UNI