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Eveready profit up three-fold to Rs 15.3 crore in Q3

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KOLKATA: Buoyed by strong operational performance, battery major Eveready Industries India has reported a 238 per cent year-on-year jump in its net profit for the third quarter this fiscal to Rs 15.33 crore from Rs 4.53 crore for the same period last fiscal.

The Kolkata-based company’s net sales during the period under review grew nearly 10 per cent y-o-y at Rs 325.22 crore on the back of value growth in batteries and a 22 per cent growth in the new category of lighting products.

Total sales increased by 9.7 per cent y-o-y at Rs 325.42 crore as against Rs 296.59 crore in the year-ago period, Eveready said in a BSE filing.

Overall expenses of the company stood at Rs 298.39 crore as against Rs 282.02 crore in the corresponding period last year.

During the December quarter, the company’s operating EBITDA soared 36.7 per cent y-o-y to Rs 34.18 crore from Rs 25 crore for the corresponding period a year ago, particularly due to progressive price increases being taken in batteries.

Going forward, the company said the outlook looks stable.

The company has an extensive distribution of more than 3,000 distributors reaching more than 5,000 population towns. The company is basing its growth on the new products-especially the lighting products and devices.

Shares of Eveready Industries India closed at Rs 214.20 apiece on the NSE.

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