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HomeBusinessEveready Industries Q2 Net rises over Four-fold to Rs. 17.64 crore

Eveready Industries Q2 Net rises over Four-fold to Rs. 17.64 crore

Battery maker Eveready Industries India Ltd. reported over four-fold jump in standalone net profit at Rs. 17.64 crore for the quarter ended September 2014 on the back of higher margins and lower finance costs.

The company had reported a net profit of Rs. 3.7 crore in the corresponding period a year ago, it said in a statement.

Eveready’s net sales during the quarter under review stood at Rs. 354.29 crore, up 10.94 per cent, from Rs. 319.33 crore in the corresponding period of 2013-14.

Commenting on the performance, the company said: “Though the volume remained flat, due to poor monsoon, battery operations remained healthy and contributed to the EBITDA margin expanding to 10.4 per cent during the quarter under review from 8 per cent in same quarter of the previous year.”

“Reduction in finance costs from Rs. 10.12 crore in the same quarter of the previous year to Rs. 7.93 crore in the quarter ended September 2014 also contributed to higher profits in the review period,” it added.

Overall expenses stood at Rs. 324.89 crore as against Rs. 304.54 crore in the corresponding period last year.

Eveready Industries shares closed 1.68 per cent higher at Rs. 148.20 apiece on the BSE.

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