Eveready Industries Q4 net profit at ₹8 crore amid sluggish rural demand

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Eveready Industries India on Friday (April 26) announced a fourth-quarter profit of ₹8 crore for the period ended March 2024, compared to a loss of ₹14.39 crore in the corresponding quarter of FY’23, amidst a marginal dip in operational revenue to ₹281 crore.

However, sequentially, the profit saw a marginal decline compared to the December 2023 quarter. The company reported revenues for the full FY24 at ₹1,314.2 crore, marking a slight decline of 1% from ₹1,327.7 crore in FY23.

Profit After Tax (PAT) for the year saw a substantial increase of 231% to ₹66.7 crore in FY’24, against ₹20.1 crore in FY’23.

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“Revenue remained moderated primarily due to weak rural demand impacting batteries and flashlights, and industry-wide price deflation affecting the lighting segment.

We believe this to be a temporary phenomenon, and we remain optimistic that FY25 will see a turnaround,” Suvamoy Saha, Managing Director at Eveready Industries, said.

Shares of Eveready Industries India Ltd ended at ₹357.75, up by ₹3.50, or 0.99% on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow