Eveready Inds shares zoom over 9% on strong Sept quarter earnings

NEW DELHI: Shares of battery and flashlights maker Eveready Industries India Ltd zoomed over 9 per cent in morning trade on Tuesday after the company posted over three-fold jump in consolidated net profit for the quarter ended September. The scrip on BSE touched a 52-week high value of Rs 170 after jumping 8.62 per cent over the previous close.

On NSE, the stock rose by 9.28 per cent to its 52-week high value of Rs 170.

Eveready Industries India Ltd on Friday reported over three-fold jump in consolidated net profit to Rs 57.22 crore for the second quarter ended September, helped by improved gross margin and lower cost of operations.

The company had posted a net profit of Rs 18.11 crore in July-September period a year ago, Eveready Industries said in a regulatory filing.

Its revenue from operations was up 6.95 per cent to Rs 372.62 crore during the quarter under review as against Rs 348.40 crore in the year-ago period.

"The turnover for the quarter did recover part of the losses of the previous quarter - aided primarily by healthy turnover in the battery and flashlight segments... The segments of lighting and appliances also somewhat recovered from a poor Q1 - though having still under-performed in comparison to the previous year," the firm said.