Anil Rai Gupta, Chairman and Managing Director of Havells, is optimistic that this festive season will augur well for both the company and the consumer durables industry in general.

The company is already making strides in gaining market share in the Lloyd air conditioning segment, suggesting that its products are resonating with consumers in the highly competitive air conditioning market.

"Among our product categories, air conditioners have experienced the highest growth," he said in a post-earnings call with CNBC-TV18.

Havells, a manufacturer of consumer electrical goods, reported a strong second-quarter performance. The company's net profit rose 33.2% YoY to ₹249.1 crore.

However, Gupta acknowledged that consumer demand didn't surge as expected. Despite the optimism of major air conditioner manufacturers due to the anticipated hot summer, unseasonal rains and other uncertainties played a dampening role. Factors such as reduced discretionary spending and intense pricing pressure led to sluggish sales for manufacturers of white goods.

Among other segments, the company achieved a 10% overall volume growth in cables and wires, retaining its market share in the domestic wire segment.

Shares of Havells have declined more than 7% in the past month.

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(Edited by : Shweta Mungre)