Eveready Industries Net up 41% in Q2

Kolkata-based Eveready Industries India Ltd today reported a 40.63 per cent increase in standalone net profit at Rs 25.61 crore for the second quarter ended September 30, 2016, led by better margins in battery and lighting category.
The company had posted a net profit of Rs 18.21 crore in July-September period a year-ago, Eveready Industries said in a BSE filing.
However, Eveready Industries' net sales was down marginally by 0.53 per cent to Rs 384.45 crore during the quarter under review as against Rs 386.52 crore of the corresponding quarter of the previous fiscal.
"Operating EBDITA margin improved by 275 basis points - 11.62 per cent in the current quarter as compared to 8.87 per cent. This was primarily led by better margins in batteries due to higher manufacturing efficiencies and favourable product mix, overall cost conservation and improved margins in the lighting category on account of lower margin CFL being replaced by higher margin LED lamps in the trade channels," the company said.

Total expenses was down 3.28 per cent to Rs 345.76 crore as against Rs 357.49 crore.
Shares of Eveready Industries were trading at Rs 242.70 on BSE, down 4.62 per cent from previous close.