Eveready Industries India announced a fourth-quarter profit of Rs 8 crore for the period ended March 2024, compared to a loss of Rs 14.39 crore in the corresponding quarter of FY'23, amidst a marginal dip in operational revenue to Rs 281 crore.
However, sequentially, the profit saw a marginal decline compared to the December 2023 quarter. The company reported revenues for the full FY24 at Rs 1,314.2 crore, marking a slight decline of one per cent from Rs 1,327.7 crore in FY23.
Profit After Tax for the year saw a substantial increase of 231% to Rs 66.7 crore in FY'24, against Rs 20.1 crore in FY'23.
"Revenue remained moderated primarily due to weak rural demand impacting batteries and flashlights, and industry-wide price deflation affecting the lighting segment. We believe this to be a temporary phenomenon, and we remain optimistic that FY25 will see a turnaround," Suvamoy Saha, Managing Director at Eveready Industries, said.
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