According to the audited financial results announced by the company, net sales increased to Rs 832.92 crore from Rs 795.39 crore. However, other income fell 46 per cent from Rs 13.68 crore to Rs 7.29 crore.

The poor show was mostly due to an abnormal 961 per cent rise in the trading stock. On March 31 last year the company reported Rs 2.84 crore increase in the trading stocks. However, on March 31 this year, it went up to Rs 30.14 crore.

In the notes along with the results, Eveready stated that the droughts had eaten into the profits of the company's tea business.

"The unprecedented drought condition in the northeastern region in the early part of the year has adversely affected the tea crop which has affected the profitability of the company," it stated. Purchase of finished goods for resale has also increased by 55 per cent from Rs 53.04 crore to Rs 82.49 crore.

Net interest burden increased by 20.5 per cent from Rs 44.61 crore to Rs 53.76 crore.

Profit before tax fell 74 per cent to Rs 10.01 crore from Rs 38.59 crore. After a tax provision of Rs 1.50 crore, net profit was Rs 8.51 crore, down by 75.57 per cent from Rs 34.84 crore.

Earning per share also received a jolt as it fell 75 per cent from Rs 9.63 to Rs 2.35.

Eveready did not announce any further dividend and the company's note stated that the interim dividend of 20 per cent should be considered as the "dividend for the full year."

Reserves and surplus went up marginally from Rs 184.57 crore to Rs 185.04 crore a company release said.