Battery and flashlights maker Eveready Industries on Saturday reported a 13.77 per cent increase in its consolidated net profit at Rs 24.86 crore for the first quarter ended June 30, led by operating growth.
The company had posted a net profit of Rs 21.85 crore in the April-June period a year ago. Revenue from operations was up 8.4 per cent to Rs 363.57 crore during the quarter under review 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. Total income in the June quarter was Rs 366.41 crore, up 9.11 per cent.
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.
PTI