Eveready Industries net profit down over 40% in Q3

Eveready Industries India Ltd on Monday reported a 40.49 per cent decline in its net profit to Rs 20.94 crore for the quarter ended 31 December 31, 2017, as compared to Rs 35.19 crore in the year-ago period.

On a comparable basis, net revenue from operations, during the quarter under review, was at Rs 369.56 crore, up by 12.71 per cent from Rs 329.46 crore in the corresponding quarter of 2016-17.

"Turnover for the quarter grew by 12 per cent riding on a robust growth of 33 per cent in the lighting products segment and contribution from the recently launched appliances segment, despite a flat performance in the battery segment," the company said.

It also said battery turnover was flat as GST rates on the segment got reduced from 28 per cent to 18 per cent from mid-November, though such reduction should provide impetus for volume growth in future quarters.

"Prices of battery input materials continued to be firm during the quarter - and was significantly higher as compared to the same period in previous year, resulting in margin erosion of about two per cent - though partially offset by favourable impact from the Rupee exchange rate," it said.

Expenses during the quarter were Rs 347.06 crore as against Rs 318.34 crore in the same period of last fiscal.

--IANS

bdc/vd