Exide Industries Ltd is set to announce financial results for the fourth quarter ended March 31, 2023, on Monday. The company had posted a nine per cent rise in standalone net profit at ₹223 crore for the third quarter ended December 31, 2022, as compared with ₹204 crore same period last year.
The company’s scrip opened at ₹188.05, up by 0.48 per cent on the BSE on Monday.
The growth in profits is attributed to higher sales across various verticals. Revenue from operations on a standalone basis had grown by nearly seven per cent at ₹3,405 crore during the third quarter of FY23 as against ₹3,197 crore in the same period last year.
The company expects the demand scenario to be positive for automotive and industrial verticals. The demand growth would be strong in most industrial verticals such as railways, projects, telecom, solar and traction, it had said earlier.