Eveready India reported a 41.93 percent increase in net profit at Rs 36.35 crore for the September quarter, mainly on account of higher income.
The revenues in Q2 for the Kolkata-based battery maker stood at Rs 398.25 crore versus Rs 366.63 crore for the same quarter last fiscal. Battery volumes grew by 7 percent while turnover grew by 5 percent during the quarter.
Throwing more like on the numbers, Amritanshu Khaitan, MD, Eveready India said most of the growth came because of volumes on back of recovery seen in the battery segment, in the flashlights and the biggest in LED lightings.
Of the overall revenues of Rs 740 crore, batteries constitute about 55 percent, lighting & appliance is close to 30 percent and the rest is flash lights.
According to him, CFL is virtually being phased out and Q3 will be the last quarter where they will be selling it.
The profitability in the LED lighting segment has been the strongest, said Khaitan.
He said, the second half will continue to see strong growth in terms of revenues. So, lighting and appliance are slated to take the company forward on a strong path in terms of revenue growth, while battery and flashlights are likely to be stable, he added.
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