Eveready Industries Q3 net dips

NEW DELHI: Batteries and flashlights maker Eveready Industries on Thursday reported a multi-fold decline in standalone net profit to Rs 19.71 lakh in the third quarter ended December 31, hit by cost of separation workers at Chennai plant. The company had posted standalone net profit of Rs 20.94 crore in the same quarter last fiscal, Eveready Industries said in a regulatory filing. Total income during the period under review stood at Rs 387.81 crore as against Rs 373.8 crore in the year-ago quarter, it added. Eveready Industries said it incurred Rs 23.21 crore in the voluntary retirement scheme for workmen (VRS) at its manufacturing facility at Tiruvottiyur, in Chennai. The VRS was completed during the quarter and after its completion the company had in December agreed to sell the land to Alwarpet Properties Pvt Ltd for Rs 100 crore.