Eveready Industries India hits over 13-month high as Q4 profit soars

Eveready Industries India

02/07/2020 05:24

** Shares of battery maker  ERDY.NS  jump as much as 7.4% to
93.95 rupees — their highest level in more than 13 months
    ** ERDY reports a 1289.2% surge in March-qtr consol. profit
to 630.7 mln rupees ($8.35 mln), helped by a 620.4-million-rupee
profit on sale of land in Hyderabad
    ** However, co's Q4 consol. revenue from operations declines
32.5% to 2.24 billion rupees  urn:newsml:reuters.com:*:nFWN2E80GE
    ** Co says core categories of batteries and flashlights
seeing healthy demand due to sharp decrease in "dumped imports"
from China and non-availability of supplies in the unorganised
market  urn:newsml:reuters.com:*:nFWN2E80GH
    ** Shares are up 59.7% this year, as of last close
    

($1 = 75.4900 Indian rupees)

 (Reporting by Philip George in Bengaluru)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))