Eveready Q4 net dips 96 per cent to Rs 3.86 cr

KOLKATA: Cost pressure and degrowth in certain segments of products led to a 96 per cent drop in the net profit of Eveready Industries India Ltd to Rs 3.86 crore in the Q4 period ended March 2011, over corresponding period last year.

The company today reported a net sales of Rs 204.07 crore during the quarter as compared to 227.40 crore in the corresponding period in 2009-10.

For the entire fiscal 2010-11, net profit was down to Rs 39.24 crore as compared to Rs 142.21 crore in the previous year.

Eveready in a release attributed the poor performance and pressure on margins due to rise in cost on account of zinc prices and exchange rate.

Also, flashlights and lighting products showed degrowth during the year adding to its woes.

Packet tea sales also remained almost stagnant during the year.