Skip to content
TechVibe

TechVibe

  • Home
  • Web3
  • Technology
  • Health
  • Business
  • Sports
    • Cricket
    • Football
  • Press Release
  • Contact Us
  • Toggle search form

Net profit for Eveready in Q2 FY’24 soars 73% due to reducing input costs

Posted on November 7, 2023 By Haley Bennett

Eveready Industries India Ltd (EIIL) based in Kolkata has reported a significant increase in consolidated net profit for the second quarter of the current fiscal year. The company’s net profit rose by 73.5 per cent to Rs 25.44 crore, up from Rs 14.73 crore in the same quarter last fiscal year. Despite a three per cent decrease in revenue from operation to Rs 364.9 crore, the operating EBITDA margin improved to 12.7 per cent.

According to Eveready Industries, the revenue performance was impacted by the distribution revamp, which is expected to normalize in the upcoming quarters. While battery-operated flashlights saw a decline, there was healthy growth in the rechargeable category. The company attributed the margin expansion to favorable trends in raw materials and stability in the exchange rate.

Managing Director Suvamoy Saha expressed confidence in the company’s growth strategy within its existing business mix and emphasized the successful execution of a complex route to market in the distribution structure. The initial moderation in battery uptake is expected to be resolved in the coming quarters with replenished stocks through more efficient pathways.

Undertaking a revamp journey with the new management under the Dabur family, Eveready has also introduced a new logo and tagline to appeal to the new generation of consumers. This is in line with the company’s efforts to adapt to changing consumer preferences and market dynamics.

Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Business Tags:Eveready industries, Eveready q2 cost, Eveready q2 profit and loss, Eveready q2 report, Eveready q2 revenue report

Post navigation

Previous Post: Champions League: Live Score, Lineups, and Result Updates for Shakhtar Donetsk vs Barcelona
Next Post: Are AI Systems Successfully Discovering New Medicines, as Researchers Aim to Push Them?

Related Posts

Exploring India’s Cuisine: 10 Saag Recipes to Celebrate Green Vegetables Business
Rephrase the title:Sensex, Nifty scale fresh record highs, rise for 4th day in a row Business
Rephrase the title:India not having permanent seat in UN Security Council is ‘absurd’: Elon Musk Business
Rephrase the title:Milind Deora quits Congress, joins Shiv Sena led by CM Shinde to ‘walk development path’ Business
Rephrase the title:India’s economic rise: How global tech giants are chasing the next big growth engine Business
Rephrase the title:Infosys net profit declines 7.3% to ₹6,106 crore in Q3 Business

Recent Posts

  • Robin Open Social-Fi: Revolutionizes Gaming with Innovative Integration and Global Partnerships
  • $GUMMY Set to Launch New Meta On Staking on Solana
  • BinoStake.io: Transforming Crypto Investments On BNB Chain with Liquid Staking Solutions
  • Mocaverse to Develop Decentralized Social Layer
  • Expansion of Web3 Fueled by Hong Kong’s Financial Secretary

Categories

  • Business
  • Cricket
  • Football
  • Health
  • Press Release
  • Technology
  • Web3

About Us

Welcome to TechVibe9, where the rhythm of technology meets innovation! We are a group of tech enthusiasts on a mission to uncover and showcase the latest in the tech world.

Mail Us : support@techvibe9.com

Latest Post

  • Robin Open Social-Fi: Revolutionizes Gaming with Innovative Integration and Global Partnerships
  • $GUMMY Set to Launch New Meta On Staking on Solana
  • BinoStake.io: Transforming Crypto Investments On BNB Chain with Liquid Staking Solutions

Helpful Links

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

Copyright © TechVibe9

Powered by PressBook Masonry Dark