Battery and flashlights manufacturer Eveready Industries
India Ltd, on April 25, reported a consolidated net loss of Rs 38.31 crore in
the March quarter of fiscal 2022. The company has reported a net loss of Rs
442.53 crore in the March quarter of the previous financial year.

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Its revenue from operations grew 17.82% YoY to Rs 294.33
crore during the reported quarter. In the March quarter of fiscal 2021, revenue
from operations stood at Rs 249.81 crore.

“The quarter continued to experience lower demand in
all categories as inflation ruled high. Also, very significant input cost
increases due to supply chain disruptions and overall inflationary pressures
impacted margins severely. Price increases were taken to offset this resulted
in market resistance,” the company said.

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The flashlights segment continued to suffer due to a fall
in imports from China.

Eveready Industries’ total expenses stood at Rs 241.23
crore in the March 2022 quarter, down 11.51% from the final quarter of the
previous financial year.

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For the financial year ended March 2022, the company
reported a consolidated net profit of Rs 46.47 crore. It had posted a net loss
of Rs 311.52 in the previous financial year.

Revenue from operations in fiscal 2022 stood at Rs
1,206.75 crore, down 3.38% from Rs 1,248.98 crore in fiscal 2021.

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The quarter and the year ended March 2022 were “also
impacted due to one-time provisioning done as a measure of prudence, for
certain disputed receivables and inventories, and on account of restructuring
costs” for a total amount of Rs 27 crore. There was an additional cost of
Rs 18 crore for communication and consultation as against the same quarter of
the previous fiscal.

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The board has not recommended any dividend for the
financial year ended March 31, 2022, the company said in a separate regulatory
filing.

On Monday, shares of Eveready Industries India Ltd closed
at Rs 319.10 on BSE, down 0.98% from the previous close.