Eveready Industries Q1 profit up 13.8% to Rs 24.86 crore, revenue up 8.4% to Rs 363.57crore

Eveready Industries Q1 profit up 13.8% to Rs 24.86 crore, revenue up 8.4% to Rs 363.57crore

Battery and flashlights maker Eveready Industries India Ltd on August 12 reported a 13.77 per cent increase in its consolidated net profit to Rs 24.86 crore for the first quarter that ended on June 30, 2023, led by operating growth. The company had posted a net profit of Rs 21.85 crore in the April-June period a year ago, Eveready Industries said in a regulatory filing.

Its revenue from operations was up 8.4 per cent to Rs 363.57 crore during the quarter under review as against Rs 335.38 crore in the year-ago period. "Profit After Tax during Q1 showed healthy improvement on the back of operating growth," Eveready Industries said in a statement.

Eveready Industries, now controlled by the Burman family, reported total expenses of Rs 335.96 crore, up 8.2 per cent in the first quarter of FY 2023-24. The total income of Eveready Industries in the June quarter was Rs 366.41 crore, up 9.11 per cent.

Commenting on the result, Managing Director Suvamoy Saha said: "It has been an endeavour to bring salience to under-indexed areas within batteries and flashlights and over here our teams have made good progress. "The lighting business continues to show an uptick as we make further inroads into the electrical outlets distribution channel. Our innovative emergency LED bulbs have made a mark with our core audience," he said.