May 11, 2017 / 7:02 AM / 3 months ago

BRIEF-Havells India March-qtr profit falls about 74 pct

May 11 (Reuters) - Havells India Ltd

* March quarter net profit 947 million rupees

* Says decided to recommend a dividend INR 3.50 per equity share

* March quarter total income 18.73 billion rupees

* Net profit in March quarter last year was 3.66 billion rupees as per IND-AS; total income was 15.98 billion rupees

* Says approved termination of Jiangsu Havells Sylvania Lighting Co

* Says unit HHL proposed to enter into an agreement with FEILO to transfer remainder 20 pct stake in FML for a consideration of EUR 34.5 million

* Says liquidation of JV agreement is expected to realize 2.3 million euros for 50 percent stake held by co

* Says company would receive net proceeds of EUR 27.1 million from the agreement with FEILO

* Says HHL through its unit would transfer 100 percent stake in Havells Sylvania Thailand to FEILO for 1.6 million euros Source text: (bit.ly/2pzT7X1) Further company coverage:

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