HomeNewsBusinessMarketsEveready Industries falls 4% on steep decline in Q3 profit
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Eveready Industries falls 4% on steep decline in Q3 profit

It incurred Rs 23.21 crore in the voluntary retirement scheme for workmen at its facility in Chennai

Moneycontrol News
February 15, 2019 / 10:11 IST
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Spot great ideas: Damani recalling his first major trade outlined the importance of spotting good stocks. He gave example of CMC Ltd (which later merged with TCS), a public sector company which saw first round of divestment in 1992. The stocks were available at around 10-15 rupees a piece. This was the company which had developed Indian Railways reservation and ticketing system, revolutionising the experience. Despite, there were no buyers. Damani bought it and eventually it went up to Rs 800 within a year.
Spot great ideas: Damani recalling his first major trade outlined the importance of spotting good stocks. He gave example of CMC Ltd (which later merged with TCS), a public sector company which saw first round of divestment in 1992. The stocks were available at around 10-15 rupees a piece. This was the company which had developed Indian Railways reservation and ticketing system, revolutionising the experience. Despite, there were no buyers. Damani bought it and eventually it went up to Rs 800 within a year.

Moneycontrol News

Eveready Industries slipped 4 percent in morning trade after the company reported a multi-fold decline in standalone net profit to Rs 19.71 lakh in the third quarter ended December 31 hit by cost of separation workers at Chennai plant.

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The company had posted standalone net profit of Rs 20.94 crore in the same quarter last fiscal, Eveready Industries said in a regulatory filing.

Total income during the period under review stood at Rs 387.81 crore as against Rs 373.8 crore in the year-ago quarter, it added.

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