Eveready Industries India reports 55% Q3 profit increase amid lower expenses and declining lithium prices.

Eveready Industries India, a battery manufacturer, reported a 55% increase in its third-quarter profit due to lower expenses and decreasing input costs such as lithium prices. Despite an 8% drop in revenue to INR 3.05 billion, Eveready's net profit rose to INR 84.1 million thanks to a 29% decline in raw material costs. The softness in prices of battery-making metals also benefited other companies in the industry, like Amara Raja Energy & Mobility and Exide Industries.

February 06, 2024
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