Eveready posts loss in March quarter, initiates steps for 'quick' recovery

Firm is also undergoing a change of control, with the Burman Group intent on taking charge

The country’s largest dry cell battery maker, Eveready Industries India, posted a net loss of Rs 38.41 crore on a consolidated basis in the quarter ended March 31, due to lower demand and increase in input cost.

A year back, the company had posted a net loss of Rs 442.53 crore,  but on account of a one-time provisioning for outstanding amounts of inter-corporate deposits and write-off of capital advances on a land deal.

In its filing with the stock exchanges, the company said that the quarter continued to experience lower demand in all categories as inflation ruled high. Also, very