Eveready Industries India Reports Q4 Profit Amid Revenue Dip

29 Apr 2024 , 11:47 AM

Eveready Industries India reported a profit of ₹8 Crore in the fourth quarter ending March 2024, compared to a loss of ₹14.39 Crore in the same period of FY’23, despite a slight decrease in operational revenue to ₹281 Crore.

However, compared to the previous quarter in December 2023, the profit witnessed a minor decrease. The company’s total revenues for FY24 amounted to ₹1,314.2 Crore, slightly down by one% from ₹1,327.7 Crore in FY23. Nonetheless, the Profit After Tax (PAT) for FY24 surged significantly by 231% to ₹66.7 Crore compared to ₹20.1 Crore in FY23.

Currently, Everyday Industries India’s shares are being traded at ₹357, indicating a slight decrease of 0.014% compared to the previous closing price. Over the past year, the stock has experienced a notable increase of 18.58%, while since the beginning of the year, it has seen a modest rise of 0.39%.

Eveready Industries India Ltd. (EIIL) is an Indian company known for producing and selling batteries and lighting products under the Eveready brand since 1905. It also manufactures other products like photogravure plates, castings, carbon electrodes, and related items. The company operates from various locations including Kolkata, Bengaluru, Noida, Haridwar, Lucknow, and Matia (Assam).

Suvamoy Saha, Managing Director at Eveready Industries, attributed the moderated revenue to weak rural demand affecting batteries and flashlights, along with industry-wide price deflation in the lighting segment. However, he expressed optimism for a turnaround in FY25.

For feedback and suggestions, write to us at [e-mail]