Eureka Forbes reports a three-fold rise in Q3 FY24 profit to Rs 22.97 crore, driven by volume gains and improved margins. Revenue also increased significantly.
New Delhi, Feb 14 (PTI) Health and hygiene products maker Eureka Forbes on Wednesday reported three-fold rise in consolidated net profit at Rs 22.97 crore for December quarter FY24, helped by volume gains and improvement in margins.
The company had clocked a profit of Rs 6.85 crore in October-December FY23, according to a regulatory filing by the company now controlled by private equity firm Advent International.
Revenue from operation was up at Rs 539.43 crore as against Rs 473.51 crore earlier.
"Revenue growth was broad-based across categories and channels. Volumes grew for the third consecutive quarter in both water purifiers and vacuum cleaners," said Eureka Forbes in its earning statement.
EBITDA margins continued to expand year-on-year driven by operating leverage and cost optimization programmes.
"The company remains net cash positive with a surplus of Rs 60 crore vs a net debt of Rs 122 crore in Q3 FY23," it said.
Total expenses were higher by 13 per cent at Rs 511.89 crore in December quarter. Total income was up 13.45 per cent to Rs 542.49 crore.
MD and CEO Pratik Pota said, growth was volume-led and broad-based across product categories and service business.
"Within water purifiers, we witnessed strong growth in both the economy and value-added segments while growth in vacuum cleaners was led by the robotics range," he said.
Shares of Eureka Forbes were trading at Rs 486.15 apiece on BSE, up 2.13 per cent from the previous close.
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