)
Eveready Industries has moved higher by 5% to Rs 278 on the NSE after reporting an over four-fold jump in net profit at Rs 5.45 crore for the fourth quarter ended March 2015 (Q4), on the back of strong operational performance. The company had reported a profit of Rs 1.25 crore in the year year-ago quarter.
During the quarter, operating income grew 7% at Rs 275 crore against Rs 257 crore in the corresponding quarter of previous fiscal.
Though the volumes remained flat, battery operations remained healthy and contributed to the EBITDA or operating margin expanding by 7.01% from 6.05% in the previous year quarter, Eveready Industries said in a press release.
Reduction in finance cost to Rs 7.82 crore from Rs 8.83 crore during the quarter also contributed to the higher profits.
The company said the new product launch of LED bulbs towards end of the year is gaining market traction and is expected to be a major contributor of growth in the coming year.
The company stands by its plan to improve operating margins and reduce debts substantially in the coming year, it added.
Meanwhile, the board has recommended a dividend of Rs 2 per share (40%) or Rs 5 each for the year ended March 31, 2015.
The stock opened at Rs 266 and has seen a combined 1.38 million shares changing hands on the counter so far on the NSE and BSE.
At 14:48 hours, the stock was up nearly 2% at Rs 269 on the NSE.
During the quarter, operating income grew 7% at Rs 275 crore against Rs 257 crore in the corresponding quarter of previous fiscal.
Though the volumes remained flat, battery operations remained healthy and contributed to the EBITDA or operating margin expanding by 7.01% from 6.05% in the previous year quarter, Eveready Industries said in a press release.
Reduction in finance cost to Rs 7.82 crore from Rs 8.83 crore during the quarter also contributed to the higher profits.
The company said the new product launch of LED bulbs towards end of the year is gaining market traction and is expected to be a major contributor of growth in the coming year.
The company stands by its plan to improve operating margins and reduce debts substantially in the coming year, it added.
Meanwhile, the board has recommended a dividend of Rs 2 per share (40%) or Rs 5 each for the year ended March 31, 2015.
The stock opened at Rs 266 and has seen a combined 1.38 million shares changing hands on the counter so far on the NSE and BSE.
At 14:48 hours, the stock was up nearly 2% at Rs 269 on the NSE.
