Eveready Q1 Net up 23% at Rs 4.12 cr

The company reported a net profit of Rs 3.35 crore

B M Khaitan group flagship firm Eveready Industries today posted 23% rise in standalone net profit at Rs 4.12 crore in the first quarter ended June 30, 2013 on account of better price realisation and cost management.

The company had reported a net profit of Rs 3.35 crore in the corresponding quarter last year, the company said in a filing with BSE.

Eveready's net sales increased by 9% to Rs 279.56 crore in the quarter under review as against Rs 256.54 crore in the same quarter last year.

"The two main product segment of Eveready battery and flashlights registered growth contributing to sales gain. However, EBITDA growth was at 42% in reflection of better price realisation and due to cost conservation," the company said in a statement.

Outlining growth outlook for the company going forward, the statement said: "Outlook for battery and flashlights is stable and poised for growth. Eveready is also basing its growth for the year on the new products - especially the various lighting products and services.

"The company is hopeful that these should result in sustainable improvement in sales as well as margins."

Overall expenses were at Rs 265.88 crore, an increase of 7.24% in the quarter as against Rs 247.92 crore last quarter.

Shares of Eveready Industries closed at Rs 18.95 apiece, up 2.71% from previous day's close on the BSE.