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Eveready Industries Ltd on Monday reported a net profit of Rs 16.95 crore in the third quarter to December 31, 2015 against Rs 15.33 crore recorded in the corresponding quarter last year.
Operating income declined marginally to Rs 324 crore from Rs 325 crore. Dry cell battery sales were affected by dumping from China, the company said in a statement.
Sale of flashlights declined because of higher presence of cheaper but poor quality alternatives from the unorganised market. However, lighting products of the company, including LED bulbs, expanded its sales by 44 per cent.
Tightening of costs, cut in advertising spend, lower commodity prices and battery price hikes have helped the company to improve profits in Q3.
The Rs-5 Eveready stock at Rs 252.45 was down 4.45 per cent on the BSE at 3.42 pm.
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