Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessEarnings

Eveready Industries Q3 profit down 77% to Rs 5.44 crore, revenue up 1.4% to Rs 330.4 crore

The company had posted a net profit of Rs 23.71 crore in the October-December period a year ago, Eveready Industries said in a regulatory filing.

February 07, 2023 / 09:44 PM IST

Battery and flashlights maker Eveready Industries India Ltd on Tuesday reported a 77.05 per cent decline in its consolidated net profit to Rs 5.44 crore for the third quarter that ended December 31, 2022.

The company had posted a net profit of Rs 23.71 crore in the October-December period a year ago, Eveready Industries said in a regulatory filing.

Its revenue from operations was up 1.39 per cent to Rs 330.43 crore during the quarter under review as against Rs 325.89 crore in the year-ago period.

The target for revenue growth was consciously moderated during Q3 to enable the successful implementation of a new route-to-market programme as an initiative for long-term improvement, the company said in its earning statement.

Over its profit, the company said: "This was in line with the operational performance of the company, excepting the YTD number being impacted by a one-time non-cash charge of unamortized front-end fees of a loan replaced during Q2." Eveready Industries, controlled by the Burman family, reported total expenses of Rs 322.92 crore in Q3 FY23, up 6.57 per cent from Rs 302.99 crore earlier.

Shares of Eveready Industries India Ltd on Tuesday settled at Rs 326.60 on BSE, down 0.26 per cent from the previous close.

PTI
first published: Feb 7, 2023 09:44 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347