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Last Updated : Jan 27, 2017 04:33 PM IST | Source: PTI

Eveready Q3 net profit jumps 65% to Rs 35 crore

The company had posted net profit of Rs 21.27 crore in the corresponding period last fiscal.

 
 
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Eveready Industries India today reported a 65.44 percent rise in standalone net profit to Rs 35.19 crore for the third quarter ended December 31, 2016.


The company had posted net profit of Rs 21.27 crore in the corresponding period last fiscal.


The company said sales turnover during November and December were disturbed due to the impact of demonetisation.

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Total income from operations for the quarter was at Rs 344.62 crore against Rs 342.02 crore in the comparable period of 2015-16.


All main product categories registered volume growth, despite negative market sentiments battery segment witnessed 3 percent rise, flashlights 5 percent and LEDs 168 percent during the quarter.


The company rationalised price in flashlights and LED categories.


The company's newly launches appliances business has registered a turnover of Rs 12 crore during the quarter.


The company stated that effect of demonetisation impacted consumer demand, especially in the rural segment. However, various counter measures adopted by government to ease the money flow situation and steps taken to encourage non-cash transactions, should restore normalcy to markets.



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First Published on Jan 27, 2017 04:22 pm
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