Eveready Industries jumps on commencing partial operations at Karnataka plant

Eveready Industries India jumped 4.56% to Rs 59.60 after the company said its battery manufacturing facility at Maddur in Karnataka is partially operational in a gradual and phased manner.

Eveready Industries India said it has received permission from the concerned government authority, for operation of its battery manufacturing facility at Maddur, Karnataka subject to certain guidelines inclusive of maintaining a minimum number of working employees. The firm is assessing the situation and will take all necessary measures as directed by the central and/or the state government from time to time. The announcement was made after market hours yesterday, 15 April 2020.

Eveready Industries India' consolidated net profit dropped 25.69% to Rs 17.27 crore on a 22.24% decline in net sales to Rs 317.38 crore in Q3 December 2019 over Q3 December 2018.

Eveready Industries India is engaged in the business of marketing of fast moving consumer goods (FMCG), such as dry cell batteries, rechargeable batteries, flashlights, packet tea and general lighting products. The firm also distributes a range of electrical products.

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