Electrical equipment and appliances maker Havells India today reported a 23 per cent increase in consolidated profit after tax (PAT) to Rs 87 crore for the first quarter ended June 30, 2013. The company had posted a PAT of Rs 71 crore in the corresponding quarter last year, Havells India said in a statement. Revenues during the quarter under review stood at Rs 1,823 crore, up 3 per cent from Rs 1,778 crore in the year-ago period.Commenting on the performance, the company said the consistent growth inprofitability was achieved through improvement in margins.
"Shift in product mix towards consumer products and better contribution margins in lighting and consumer durables drove higher margins," it added. While switchgear revenues grew by 14 per cent, that of electrical consumer durables grew by 6 per cent, it said. On a standalone basis the switchgear revenue stood at Rs 275.97 crore during the quarter, while that of electrical consumer durables was at Rs 222.25 crore. Shares of Havells India were trading at Rs 720 per scrip during the mid-day trade, down 4.71 per cent from the previous close on BSE.