Comments
Battery manufacturer Exide Industries today reported a 11.06 per cent rise in its standalone net profit to Rs 209.92 crore for the first quarter ended June 30, 2018-19. It had posted a net profit of Rs 189 crore for the April-June period of the last fiscal, 2017-18, Exide said in a BSE filing.
Standalone revenue from operations of the company stood at Rs 2,772.46 crore for the quarter under consideration. It was Rs 2,363.72 crore for the corresponding period a year ago.
Volumes in automotive and motorcycle batteries remained strong, while growth in UPS, telecom, solar as well as other infrastructure segments continued be good during the first quarter, Exide Industries MD and CEO, G Chatterjee, said.
However, higher lead costs coupled with currency depreciation had an adverse impact on business margins as a whole, he added. The company’s stock was trading down 2.92 per cent at Rs 271.40 on the BSE in the afternoon.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.