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Eveready Industries Ltd reported a 157 per cent jump in net profit in the first quarter of 2014-15 at Rs 10.24 crore. The operating income grew 15.72 per cent at Rs 323.58 crore and the operating EBIDTA increased 36.54 per cent at Rs 33.18 crore.
The company had implemented 3 to 8 per cent price hikes across the battery categories in the first quarter, Amritanshu Khaitan, MD of the company, told Business Line. “The outlook appears to be stable. However, the delay in the monsoon and hardening of metal (zinc) prices may offset partially the margin expansion of the current quarter”, the company said in a statement. Eveready sells 1.2 billion batteries and 25 million flash lights. Eveready also market lighting products, fan, radios, power back up for mobile phones and packet tea.
Apart from its marketing channel for battery and flashlights, the company is currently building up a separate retail network for the battery operated electrical products.
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