Leading electrical goods and appliances maker Havells India Ltd on Wednesday reported a 1.6 percent year-on-year jump in net profit at Rs 358 crore for the fourth quarter that ended March 31, 2023.

In the corresponding quarter last year, the company posted a net profit of Rs 353 crore. CNBC-TV18 Polls had predicted a profit of Rs 353 crore for the quarter under review.

In the March quarter, total revenue stood at Rs 4,859.2 crore during the period under review, up 9.8 percent against Rs 4,426.3 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 4,799 crore for the quarter under review.

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At the operating level, EBITDA jumped 1.4 percent to Rs 527.2 crore in the fourth quarter of this fiscal over Rs 520 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 10.8 percent in the reporting quarter as compared to 11.8 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Havells India chairman and managing director Anil Rai Gupta said there is "moderate revenue growth amidst sluggish consumer demand environment. While business and consumers contend with persistent inflation, we are optimistic about opportunities ahead and confident of capitalising on the same."

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In the March quarter, Havells' revenue from the switchgears segment was Rs 601.03 crore, and from the cables segment it was Rs 1,568.15 crore. Havells' revenue from lighting and fixtures in the fourth quarter of FY23 was at Rs 415.95 crore. Its revenue from Electrical Consumer Durables was Rs 749.45 crore.

Revenue from Lloyd Consumer, a company that Havells had acquired in 2017, was at Rs 1,271.02 crore. Its total expenses were at Rs 4,419.23 crore, up 10.58 percent in Q4/FY23, as against Rs 3,996.12 crore a year ago.

Meanwhile, in a separate filing, Havells India said its board also recommended a final dividend of Rs 4.50 per equity share of Re 1 each for the financial year 2022-23.

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For the financial year ended March 2023, Havells' net profit declined 10.42 percent to Rs 1,071.73 crore. It was Rs 1,196.47 crore in FY22. However, its revenue for operation in FY23 increased 21.32 percent to Rs 16,910.73 crore, against Rs 13,938.48 crore a year ago.

(Edited by : Pradeep John)