New Delhi: Havell's India Ltd, one of India's leading electrical engineering companies, has announced that its net profits in the first quarter have increased by 30 per cent while sales have increased by 24 per cent.
First quarter sales this year increased to Rs 61.82 crore from Rs 49.78 crore in the corresponding quarter of the previous financial year. Net profits recorded an even higher growth - from Rs 2.22 crore in Q1 of 2001-02 to Rs 2.88 crore in the first quarter of 2002-03.
This represents a continuing good performance by Havell's in its core businesses of switchgear, meters and cables. Havell's India CMD Qimat Rai Gupta says: ''We are pleased that the company has maintained the momentum of last year. Our strong performance in the first quarter augurs well for the remaining quarters of this year as well.''
Havell's India Ltd is one of India's leading manufacturers of switchgears, energy meters, cables, wires and building installation products. With the industry's largest distribution network comprising 17 branch offices, 1,000 authorised dealers and thousands of approved retail outlets, Havell's products are sold in every nook and corner of India.
With eight state-of-the-art manufacturing facilities in India, the company exports its products to many countries in Europe and Asia. The company is listed on Bombay, National and Delhi stock exchanges. For the year ending March 2002, the company reported a gross turnover of Rs 222.03 crore and a net profit of Rs 8.57 crore.