Five-fold rise in Eveready netThe Telegraph, Kolkata November 11, 2014
Eveready Industries India Ltd (EIIL) has reported a five-fold surge in standalone net profit at Rs 17.64 crore for the quarter ended September 2014 against Rs 3.70 crore in the corresponding period of the previous fiscal.
The company attributed the jump to higher margins and a reduction in finance costs. The firm's shares on the BSE today rose 1.68 per cent and were trading at Rs 148.20 apiece at close.
Finance costs were reduced to Rs 7.93 crore in the quarter from Rs 10.12 crore in the same quarter a year ago.
Total income from operations was higher by 10.95 per cent for the quarter under consideration at Rs 354.79 crore against Rs 319.77 crore. Total expenses were higher at Rs 324.89 crore against Rs 304.54 crore in the same period a year ago.
During the quarter, EIIL said its turnover grew 11 per cent despite volumes of the main categories of batteries and flashlights remaining flat on account of a poor monsoon.
Strategic price increases taken for batteries during the current year and a 28 per cent growth in its new lighting products category also led to growth.