Eveready Q2 net drops 46% to Rs 31 cr on dip in high-margin battery sales

Eveready Industries India recorded a 45.75 per cent drop in consolidated net profit to Rs 31.04 crore in the September quarter. It was at Rs 57.22 crore in the same period last year.

Revenue from operations were at Rs 357.49 crore, down 4 per cent. The company said that consumption reduced significantly in the Covid-related medical devices, which use higher-margin batteries, with the situation related to the pandemic improving significantly in the country. That impacted the battery turnover.

Moreover, flashlights business showed a “soft trend” due to a high volume of low-cost products dumped by China. Higher cost of inputs,