Eveready Industries Q1 net up nearly 50% at Rs 15.9 crore

Eveready Industries India Ltd today reported a 49.90% jump in Net profit at Rs 15.89 crore for the first quarter ended June 30, 2015, against Rs 10.6 crore for the corresponding period of the last fiscal.

The company will also raise a sum not exceeding Rs 150 crore through qualified institutional placement (QIP) route and the proceeds will be realised for capital expenditure, long term working capital and reduction of high cost debt, it said in a BSE filing.

Its net sales in the quarter under review stood at Rs 347.92 crore, up 7.55% compared with Rs 323.48 crore in the same quarter a year ago.

In a separate filing, Eveready Industries said its Board has declared an interim dividend of Rs 1 per share.

Shares of Eveready Industries were trading at Rs 356.40 per scrip on the BSE in the afternoon trade, down 3.07% from its previous close.