Comments
Exide Industries on Monday reported over four per cent rise in a net profit during the first quarter compared with the same period last year to Rs 158.60 crore. Gross sales grew by a comparable 4.9 per cent to over Rs 1,800 crore.
According to a release, the company posted Rs 3.78 crore exchange loss due to sharp devaluation of rupee in June.
Exide is the country’s largest lead-acid battery maker.
Attributing the profit growth to higher after-market sales of automotive batteries and value engineering, the company’s Managing Director and CEO P.K. Kataky said the improved performance during the quarter is “significant” because it had come in the face of drop inoriginal equipment demand.
Performance of industrial batteries also remained “damp”.
Even home UPS battery sales were depressed.
The company’s stock closed at Rs 122.45, down by 1.21 per cent, on the BSE on Monday.
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.