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Eveready Industries Ltd has reported a 376.8 per cent increase in net profit in the second quarter. It has recorded a net profit of Rs 17.67 crore in Q2 against Rs 3.7 crore in the similar quarter last year. Increase in battery prices during the quarter improved profitability.
Reduction in finance costs from Rs 10.12 crore in the same quarter of the previous year to Rs 7.93 crore in Q2 of this fiscal also contributed to higher profits.
Eveready's operating income grew by 11 per cent to Rs 354.80 crore in the second quarter.
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