Eveready Industries Q2 profit up 16.2% to 29.5 crore

Battery and flashlights maker Eveready Industries India Ltd on Tuesday reported a 16.2 per cent rise in its consolidated net profit to Rs 29.56 crore for the second quarter ended in September 2024.

The company had posted a net profit of Rs 25.44 crore in the July- September period a year ago, according to an exchange filing from the Burman family-promoted firm.

However, its revenue from operations was marginally down at Rs 362.61 crore during the quarter under review. It was at Rs 364.89 crore in the September quarter in a year-ago period.

"Moderation in revenue is attributed to value de-growth in Batteries as Carbon Zinc volumes mark a decline in favour of Alkaline," said Eveready Industries in its earning statement.

Flashlights record double-digit growth led by the rechargeable segment while lighting value erosion continued at a lower rate than earlier, adding to the moderation, it added.

Its EBITDA margins improved helped by a better product mix, coupled with other operating efficiencies and commodity risk mitigation practices.

"We are pleased to report another quarter of sustained profitability, driven by 3 per cent growth in EBITDA and 15.7 per cent improvement in PAT in Q2 FY25.

This was supported by higher traction in the alkaline portfolio, strong growth momentum in rechargeable flashlights backed by strategic efforts towards premiumisation and new product launches," said its Managing Director Suvamoy Saha.

Total expenses of Eveready Industries decreased 1.7 per cent to Rs 328.26 crore in the September quarter.

Eveready Industries' total income in the September quarter was at Rs 363.28 crore, down marginally.

Shares of Eveready Industries India Ltd on Tuesday settled at Rs 381.35 on BSE, down 2.26 per cent from the previous close.