Battery-maker Eveready Industries India’s Q3 profit jumps 55% on lower expenses
Battery maker Eveready Industries India reported a 55% jump in third-quarter profit on Tuesday, helped by diminishing input costs. Lithium prices, a key raw material for battery makers, were down in the quarter, helping offset beleaguered rural demand for batteries and flashlights.
Eveready’s total expenses fell almost 9% to 2.95 billion rupees, led by a 29% decline in raw material costs. As a result, consolidated net profit rose to 84.1 million rupees ($1 million) in the three months to Dec. 31.
