Eveready Industries India reports a Q4 profit of Rs 8 crore, but faces sluggish rural demand. Revenue dips slightly, but full-year profit sees a significant increase.
Photograph: Kind courtesy evereadyindia.com
Kolkata, Apr 26 (PTI) Eveready Industries India announced a fourth-quarter profit of Rs 8 crore for the period ended March 2024, compared to a loss of Rs 14.39 crore in the corresponding quarter of FY'23, amidst a marginal dip in operational revenue to Rs 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 Rs 1,314.2 crore, marking a slight decline of one per cent from Rs 1,327.7 crore in FY23.
Profit After Tax (PAT) for the year saw a substantial increase of 231 per cent to Rs 66.7 crore in FY'24, against Rs 20.1 crore in FY'23.
"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.
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