Eveready runs out of battery

Eveready Industries fell over 7% today to Rs.385.25; its 52-week high and low is at Rs.465 and Rs.228 respectively.

The market is very disappointed with Q3FY18 performance. Despite a 12% (YoY) rise in revenue at Rs.369 crore, it posted a 40.5% drop in net profit at Rs.21 crore, much below what most had estimated.

Operating profit was down 3% at Rs.34 crore while margins slipped from 10.7% to 9.2%.