Mumbai, May 20 (IANS): Fast moving electrical goods (FMEG) company Havells India on Thursday reported a rise of 70.62 per cent in its standalone net profit in Q4FY21 on a year-on-year basis.

According to the company, the standalone Q4FY21 net profit rose to Rs 302 crore as against Rs 177 crore in the corresponding quarter previous year.

Besides, the company's net revenue for Q4 FY21 increased to Rs 3,331 crore as against Rs 2,217 crore in the corresponding quarter previous year.

On a fiscal basis, FY21 net profit was up Rs 1,040 crore as against Rs 733 crore in FY20. The net revenue for FY21 was Rs 10,428 crore from Rs 9,429 crore in the previous fiscal.

Furthermore, the company's Board of Directors approved final dividend of Rs 3.50 per equity share, making a total dividend of Rs 6.50 per equity share for the financial year 2020-21, including interim dividend of Rs 3 per equity share declared earlier during financial year 2020-21.

"Q4 sustained the growth momentum gained in Q3 with the highest quarterly sales. The tumultuous year has ended with a reasonable growth in revenues and profitability, underpinning Havells resilience amidst uncertainty," Havells Indian Chairman and Managing Director Anil Rai Gupta said.

"However, the second wave has been ferocious and disruptive impacting business since second half of April."