One-time voluntary retirement charge pulls down Eveready's Q3 profit by 99%

Company believes the voluntary retirement scheme will lead to recurring annualised savings of around Rs 15 cr

A one-time payment of Rs 23.21 crore over voluntary retirement scheme (VRS) for its Chennai plant resulted in Eveready Industries posting a 99 per cent fall in its net profit at Rs 0.20 crore during the third quarter of the current financial year. 

The net profit during the third quarter (Q3) of the last financial year stood at Rs 20.94 crore. The pre-tax profit, excluding the VRS payment, fell by around 21 per cent to Rs 21.21 crore, as compared to Rs 26.73 crore in the year-ago period.

Despite the company reaping fiscal incentives from the Assam government over its recently commissioned