Eveready Industries logs 17% y-o-y growth in Q2 net profit

13 Nov 2024 , 09:20 AM

Eveready Industries India stated that the company has reported a 16.5% YoY rise in net profit to ₹29.6 Crore for the second quarter ended September 30, 2024. The company manufactures batteries and flashlights.

Eveready Industries India reported a net profit of ₹25.4 Crore in the previous corresponding period, according to a regulatory filing.

The company’s revenue from operations slipped by 0.7% to ₹362.6 Crore compared to ₹365 Crore in the same period previous year.

Eveready Industries’ revenue during the second quarter of FY25 was primarily impacted by a fall in the carbon zinc battery business, which saw reduced volumes as consumers converted to alkaline batteries.

EBITDA increased by 3% to ₹47.8 Crore in the second quarter of this fiscal year, up from ₹46.4 Crore in the same period last year.

Eveready’s EBITDA performance improved owing to a better product mix, increased operating efficiencies, and efficient commodity risk mitigation techniques.

The EBITDA margin came in at 13.2% in the reporting quarter, up againist 12.7% in the same period last fiscal year.

While the total battery segment’s value declined, the company saw tremendous growth in alkaline batteries, with a 75% YoY volume gain. Alkaline batteries now account for 5.4% of the company’s battery mix, up from 3.3% in Q2 FY24, allowing Eveready to consolidate its market dominance.

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