New Delhi: Electrical goods maker Havells India's standalone net profit remained flat at Rs 107.37 crore in the first quarter ended June 30, on account of weak macroeconomic conditions.
The company reported a net profit of Rs 107.27 crore during the same period of previous fiscal.
Net sales of the company declined marginally by 0.70 percent to Rs 1,258.1 crore for the April-June quarter compared with Rs 1,267.05 crore during the same period last year, Havells India said in a BSE filing.
"The macroeconomic environment has been in a stalemate for last few quarters and the slowdown continues to impact our growth," said Havells India Chairman and Managing Director Anil Rai Gupta.
On outlook, he said: "While the market seems to be showing some signs of revival, our focus would be on maintaining profitability, cost rationalisation, strengthening of our dealer network and brand building initiatives."
The company has expectations from LED and solar lighting segments in which Havells had ventured during the quarter after acquiring 51 percent stake in Promptec Renewable Energy Solutions.
"We are confident that the expected uptick in demand in consumer business and government's push for LED and Solar lighting solutions will boost the market sentiment and help in achieving growth for the business," he said.
