One-time provisioning on ICDs drags Eveready to Rs 443 crore loss

The Eveready stock, however, moved up 6.11% to close at Rs 333.35 on BSE

Hit by provisioning for outstanding amounts of inter-corporate deposits (ICDs) and write-off of capital advances on a land deal amounting to Rs 629.70 crore, battery maker, Eveready Industries India, posted a consolidated net loss of Rs 442.53 crore in the March quarter compared to a net profit of Rs 63.07 crore in the same period last year.

The Eveready stock, however, moved up 6.11 per cent and closed at Rs 333.35 on the Bombay Stock Exchange (BSE).

Revenue from operations was 21.67 per cent higher at Rs 272.63 crore as against Rs 224.08 crore in the corresponding quarter last year.