Eveready Industries Q1 Results: Profit Up 13.77%, Revenue Rises 8.4%

Profit After Tax during Q1 showed healthy improvement on the back of operating growth, the company said.

<div class="paragraphs"><p>(Source: Company website)</p></div>
(Source: Company website)

Battery and flashlights maker Eveready Industries India Ltd. on Saturday reported a 13.77% increase in its consolidated net profit to Rs 24.8 crore for the first quarter that ended on June 30, led by operating growth.

The company had posted a net profit of Rs 21.8 crore in the April-June period a year ago, Eveready Industries said in a regulatory filing.

Its revenue from operations was up 8.4% to Rs 363.5 crore during the quarter under review, as against Rs 335.3 crore in the year-ago period.

"Profit After Tax during Q1 showed healthy improvement on the back of operating growth," the company said in a statement.

Eveready Industries, now controlled by the Burman family, reported total expenses of Rs 335.9 crore, up 8.2% in the first quarter of FY24.

The total income of Eveready Industries in the June quarter was Rs 366.4 crore, up 9.11%.

Commenting on the result, Managing Director Suvamoy Saha said, "It has been an endeavour to bring salience to under-indexed areas within batteries and flashlights and over here our teams have made good progress."

"The lighting business continues to show an uptick, as we make further inroads into the electrical outlets distribution channel. Our innovative emergency LED bulbs have made a mark with our core audience," he said.