Eveready vice-chairman Deepak Khaitan in Calcutta on Monday. Picture by Kishor Roy Chowdhury

Calcutta, Jan. 30: Eveready Industries India Ltd has posted net sales of Rs 184.03 crore for the quarter ended December 31 compared with Rs 163.45 crore in the corresponding previous period.

The company’s earnings, however, declined to Rs 6.43 crore during the reporting period from Rs 25.76 crore last year. “The decline in the net profit is largely due to the fluctuation in exchange rates,” said Deepak Khaitan, vice-chairman, Eveready Industries (EIIL).

At present, the company’s foreign loans stand at $5.53 million, down from $51.53 million at the beginning of the December quarter.

Eveready may consider another price hike by the middle of February, Khaitan said, as there has been a steep rise in the prices of zinc. Zinc has become costlier by 54 per cent at Rs 2,200 per tonne against Rs 1,180 a tonne in December 2004.

“The first price hike was done after 10 years in May 2005, followed by one in September. And the way prices are increasing coupled with global aluminium and copper prices, we are forced to consider another one,” Khaitan said.

The volume has grown by 6 per cent on a quarter-to-quarter basis. The company’s market share in the dry cell segment stands at 47 per cent, he added.

“The flashlights’ division has recorded a 4 per cent growth in volumes during the quarter and 10 per cent in the course of the last nine months, while packet tea grew by 17.6 per cent. We hope to maintain the growth for packet tea,” Khaitan said.