Eureka Forbes Ltd reported a 26.37% increase in its consolidated net profit to Rs 32.15 crore for Q1 FY24, driven by strong growth in Water Purifier, Vacuum Cleaner, and service business. Revenue also rose by 9.61% to Rs 553.37 crore.
New Delhi, Aug 8 (PTI) Health and hygiene products maker Eureka Forbes Ltd on Thursday reported a 26.37 per cent increase in its consolidated net profit to Rs 32.15 crore for the first quarter ending June.
The company had posted a net profit of Rs 25.44 crore in the April-June quarter a year ago, according to a regulatory filing by the firm now controlled by private equity firm Advent International.
Its revenue from operation was up 9.61 per cent to Rs 553.37 crore during the quarter under review. It was at Rs 504.81 crore in the corresponding quarter. Eureka Forbes' total expenses increased 8.77 per cent to Rs 512.53 crore in the June quarter.
Total income of Eureka Forbes was up 9.64 per cent at Rs 555.71 crore in the June quarter.
Commenting on the results, Eureka Forbes MD and CEO Pratik Pota said: "Despite a muted demand environment, we are pleased to report the third successive quarter of double-digit growth in our continuing business.
"Growth was broad-based across both Water Purifier and Vacuum Cleaner categories and the service business, with our premium products being the engines of growth," he added.
"We made progress on the profitability front too with EBITDA margins for Q1 reaching a lifetime high of 11.5%, an improvement of 166bps year on year," he said.
Shares of Eureka Forbes Ltd on Thursday settled at Rs 468.30 on BSE, down 1.75 per cent from the previous close.
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