Eveready Q3 results: Net profit falls 44% to Rs 50 crore

KOLKATA: Battery major Eveready Industries India Ltd on Wednesday reported a 44 per cent fall in its standalone net profit to Rs 50.43 crore for the third quarter of the current fiscal.

In the year-ago period, the company's net profit was at Rs 90.60 crore which included Rs 89.55 crore from the sale of its land in Chennai.

The Kolkata-based firm said its operating income stood at Rs 340 crore during the October-December quarter as against Rs 317 crore in the corresponding period last year.

"The turnover for the quarter registered growth - aided primarily by healthy revenue in the battery and flashlight segments. The lighting and appliances also witnessed a spike in demand in the wake of festive season across the country," the company statement said.

Its turnover in the three-month period grew by seven per cent as compared to that of the previous year.

The operating Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin improved to around 20 per cent during the period from 11 per cent in the same quarter last fiscal.