Eveready Industries Q3 Profit Down 77% To Rs 5.44 Crore

Battery and flashlights maker Eveready Industries India Ltd on Tuesday reported a 77.05 per cent decline in its consolidated net profit to Rs 5.44 crore for the third quarter that ended December 31, 2022.
    
The company had posted a net profit of Rs 23.71 crore in the October-December period a year ago, Eveready Industries said in a regulatory filing. 
    
Its revenue from operations was up 1.39 per cent to Rs 330.43 crore during the quarter under review as against Rs 325.89 crore in the year-ago period.
    
The target for revenue growth was consciously moderated during Q3 to enable the successful implementation of a new route-to-market programme as an initiative for long-term improvement, the company said in its earning statement.
    
Over its profit, the company said: "This was in line with the operational performance of the company, excepting the YTD number being impacted by a one-time non-cash charge of unamortized front-end fees of a loan replaced during Q2."    
    
Eveready Industries, controlled by the Burman family, reported total expenses of Rs 322.92 crore in Q3 FY23, up 6.57 per cent from Rs 302.99 crore earlier.
    
Shares of Eveready Industries India Ltd on Tuesday settled at Rs 326.60 on BSE, down 0.26 per cent from the previous close.