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Eveready Ind Q2 net profit falls 32pc to 24.6 crore

Press Trust of India  |  Kolkata 

Industries India Ltd on Monday reported a 32-per cent on-year decline in net profit to Rs 24.66 crore in the quarter ended September, owing to lower sales and a weak rupee.

The Kolkata-based company's net sales stood at Rs 383.49 crore in the quarter under review as against Rs 398.25 crore in the corresponding period a year ago.

"The operating results for the quarter was lower compared to the corresponding quarter of the previous year, consequent to a lower turnover coupled with the adverse impact of a depreciating rupee.

"Marginal turnover drop came from both the battery segment as well as the lighting segment," Industries said in a statement.

The weakening rupee is a cause for concern, the dry-cell battery maker said.

"It is expected that the markets will shrug off the sluggishness in pick up, in both the categories of batteries and flashlights as government implements its plans to boost rural incomes through infrastructure spending and increase in Minimum Support Price (MSP)," the statement added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 19:50 IST