Comments
Eveready Industries Ltd on Monday reported a net profit of Rs 16.95 crore in the third quarter to December 31, 2015 against Rs 15.33 crore recorded in the corresponding quarter last year.
Operating income declined marginally to Rs 324 crore from Rs 325 crore. Dry cell battery sales were affected by dumping from China, the company said in a statement.
Sale of flashlights declined because of higher presence of cheaper but poor quality alternatives from the unorganised market. However, lighting products of the company, including LED bulbs, expanded its sales by 44 per cent.
Tightening of costs, cut in advertising spend, lower commodity prices and battery price hikes have helped the company to improve profits in Q3.
The Rs-5 Eveready stock at Rs 252.45 was down 4.45 per cent on the BSE at 3.42 pm.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.