Leading battery and flashlights maker Eveready Industries India Ltd on Tuesday reported narrowing of its consolidated net loss to ₹14.39 crore for the quarter ended March 2023. The company had posted a net loss of ₹38.41 crore in the year ago period.
The revenue from operations was up 18.62 per cent to ₹286.17 crore during the quarter under review as against ₹241.23 crore in the year-ago period.
“PAT (Profit After Tax) for the quarter and FY23 was impacted adversely by a non-cash charge of ₹17.4 crore against unamortised front-end fees for loans repaid during the quarter and the full year,” said Eveready Industries India Ltd.
The total expenses of the company, controlled by the Burman family, rose 6.31 per cent to ₹312.92 crore in the fourth quarter ended March 2023.
In the latest March quarter, Eveready's total income jumped 21.32 per cent to ₹293.81 crore.
"Each of the company's three segments saw growth during Q4 -- batteries at 21 per cent, flashlights at 25 per cent and lighting at 26 per cent," the company said in its earning statement.
For the financial year ended March 2023, Eveready's net profit was down 40.54 per cent to ₹27.63 crore. It was at ₹46.47 crore in FY22.
The company's consolidated revenue from operations in FY23 increased 10.02 per cent to ₹1,327.73 crore from ₹1,206.75 crore in the year-ago period.
"Eveready remains the market leader in dry cell batteries with a market share of 53.4 per cent for FY23," it said.
The company's shares settled2.57 per cent down at ₹299.35 on the BSE.
