Eveready Industries India share price was up 4 percent in the morning session on November 17 after the company declared its September quarter results.
The battery and flashlights maker on November 13 reported over three-fold jump in consolidated net profit to Rs 57.22 crore for the second quarter ended September helped by improved gross margin and lower cost of operations.
The company had posted a net profit of Rs 18.11 crore in July-September period a year ago, Eveready Industries said in a regulatory filing.
Its revenue from operations was up 6.95 percent to Rs 372.62 crore during the quarter under review as against Rs 348.40 crore in the year-ago period.
The stock was trading at Rs 161.85, up Rs 5.35, or 3.42 percent at 09:35 hours. It has touched a 52-week high of Rs 165.50. It has touched an intraday high of Rs 165.50 and an intraday low of Rs 159.40.
The company's total expenses was at Rs 318.37 crore in July-September quarter, down 7.37 per cent, compared to the year-ago period.
About the outlook, the company said its core categories of batteries and flashlights continues to witness a healthy demand, given the sharp decrease in dumped imports from China and the disruptions caused to the unorganized market in the midst of the pandemic.
“The situation in the battery segment should continue to look positive as imports continue to remain low with the BIS standards having come into force - providing a level playing field to domestic manufacturers. The flashlight segment is also likely to benefit as many of the unorganised gray market players may have been adversely impacted by cash flow constraints arising out of economic disruption,” it said.
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