Exide Industries reported a near 16 per cent dip in net profit to ₹155 crore for the quarter ending June 30, 2015; from ₹185 crore a year ago.
Net sales in the first quarter dipped nearly 6 per cent to ₹1,795 crore, which stood at ₹1,907 crore last year.
According to PK Kataky, MD and CEO, demand for both automotive OEM (original equipment manufacturer) and industrial battery, including demand for home UPS, power and traction battery remained “subdued”.
However, growth in automotive and motorcycle battery replacement sale was encouraging in this quarter, the MD and CEO said, according to a release issued by the company.