New Delhi: Eveready Industries India Ltd on Monday reported a 40.49% decline in net profit at Rs20.94 crore for the quarter ended 31 December 2017, mainly on account of higher expenses.

The battery maker had posted a net profit of Rs35.19 crore during the same period a year ago, Eveready Industries said in a regulatory filing.

Total income during the quarter under review stood at Rs373.80 crore, compared to Rs346.90 crore in the December quarter of 2016-17. The company said revenue for the period is not comparable on account of implementation of goods and service tax from 1 July 2017.

Expenses during the quarter were Rs347.06 crore as against Rs318.34 crore in the same period previous fiscal.

At 2.24pm, Everyday Industries shares were trading 4.97% lower at Rs377.50 apiece on BSE, while the Sensex fell 1.03% to 34,706.42.