Havells Expects 2 Billions Rupees Consumer Appliances Sales

Havells India Ltd. (HAVL), the nation’s second-largest electrical components maker by value, said it expects revenue from consumer appliances, excluding fans, to reach 2 billion rupees ($41 million) in the year starting April.

Havells, a maker of lighting products, switchgears, cables and fans, expanded its range to include toasters, blenders and grinders in August.

“The initial response has been very good,” Anil Gupta, joint managing director, told analysts on a conference call today. The home-appliances segment may contribute about 1.2 billion rupees to revenue in the year to March, he said in an interview on Aug. 10.

Profit jumped 20 percent to 702.4 million in the quarter ended Sept. 30 from a year earlier, the company said yesterday. Sales climbed 29 percent to 8.5 billion rupees.

Havells’ shares surged 7.1 percent to 380.70 rupees at the 3:30 p.m. close in Mumbai today, the most in eight months.

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net;

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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