Eveready Industries Shines Bright Despite Revenue Dip

Eveready Industries India Ltd reported a 16.2% rise in net profit for Q2 2024 despite a slight fall in revenue. Profitability was boosted by an improved product mix and strategic efforts in the alkaline and rechargeable flashlight segments. Shares closed down by 2.26% on BSE.

Eveready Industries India Ltd has demonstrated resilience by reporting a 16.2% increase in its consolidated net profit, amounting to Rs 29.56 crore for the second quarter of 2024. This growth comes despite a slight drop in revenue from operations, which stood at Rs 362.61 crore.

The company's earnings surged as a result of strategic efforts to enhance product offerings, particularly in the alkaline battery and rechargeable flashlight segments, according to Managing Director Suvamoy Saha. These efforts contributed to a 3% growth in EBITDA and a 15.7% increase in PAT.

While revenues experienced moderation due to shifts in product demand, Eveready maintained profitability through improved EBITDA margins and reduced total expenses. Nonetheless, shares of the company settled slightly down at Rs 381.35, marking a 2.26% decrease on the BSE.

(With inputs from agencies.)