Eveready Industries Q3 net profit declines 40% to Rs 210 million

Eveready Industries India on Monday reported 40.49 per cent decline in net profit at Rs 209.4 million for the quarter ended December 31, mainly on account of higher expenses.

The battery maker had posted a net profit of Rs 351.9 million during the year-ago period, Eveready Industries said in a regulatory filing.

Total income during the quarter under review stood at Rs 3.738 billion. It was Rs 3.469 billion in the December quarter of 2016-17.

The company said revenue for the period is not comparable on account of implementation of GST from July 1, 2017.

Expenses during the quarter were Rs 3.47 billion as against Rs 3.183 billion in the same period previous fiscal.

The stock was trading 5.60 per cent down at Rs 375 apiece on BSE.