Other income powers Exide net

Battery maker Exide Industries on Monday reported a nearly 26 per cent jump in net profit to ₹196 crore for the June quarter, riding on a ₹11 crore gain in ‘other income’. Net sales rose 11 per cent to ₹2,011 crore. Operating margin remained flat at 16 per cent. A company release claimed improvement in demand for both auto and industrial batteries during the quarter. The board has appointed non-executive independent director Bharat Dhirajlal Shah as Chairman, replacing Raiesh G Kapadia, who had resigned earlier.