Eveready registers PAT of Rs 3.12 cr in Q1

Brij Mohan Khaitan’s packet tea and battery maker, Eveready Industries India, has recorded a profit after tax (PAT) of Rs 3.12 crore in the first quarter ended June 30, 2008, compared to a loss of Rs 11.93 crore in the same period last year, due to increase in battery sales and lower zinc prices.

Net sales during the quarter stood at Rs 219.52 crore, an increase of 8.4 per cent.

Battery volumes in the current quarter grew by 10 per cent over previous year’s corresponding quarter contributed by cheaper variety of “AA” batteries. Packet tea turnover for the current quarter was at Rs 18.42 crore, a growth of 11 per cent.

The company expects new products to be introduced over the next few months to improve business volumes and profitability. Overall margins on the gain from zinc would also have a positive impact.