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Eveready Industries has risen 3% to Rs 222 on BSE after reporting an over three-fold jump in net profit at Rs 15.33 crore for the third quarter ended December 31, 2014 (Q3), due to lower raw material cost. The company had profit of Rs 4.53 crore in a year ago quarter.
Net sales of the company grew 9.8% at Rs 340 crore against Rs 296 crore in the corresponding quarter of previous fiscal. The raw material cost declined by 8% at Rs 143 crore from Rs 156 crore over the previous year quarter.
EBITDA or operating profit margins expanded 200 bps to 10.5% from 8.4%.
Reduction in finance costs from Rs 9.22 crore in the same quarter of the previous year to Rs 8.22 crore in the current quarter also contributed to the higher profits in the current period, the company said.
The outlook appears to be stable, it added.
The stock opened at Rs 218 and touched a low of Rs 212 on BSE. The trading volumes on the counter more than doubled with a combined 2.71 million shares changed hands till 1350 hours on BSE and NSE.
Net sales of the company grew 9.8% at Rs 340 crore against Rs 296 crore in the corresponding quarter of previous fiscal. The raw material cost declined by 8% at Rs 143 crore from Rs 156 crore over the previous year quarter.
EBITDA or operating profit margins expanded 200 bps to 10.5% from 8.4%.
Reduction in finance costs from Rs 9.22 crore in the same quarter of the previous year to Rs 8.22 crore in the current quarter also contributed to the higher profits in the current period, the company said.
The outlook appears to be stable, it added.
The stock opened at Rs 218 and touched a low of Rs 212 on BSE. The trading volumes on the counter more than doubled with a combined 2.71 million shares changed hands till 1350 hours on BSE and NSE.
