Exide Industries posted a 11 per cent increase in net profit to ₹210 crore for the quarter ended June 30, 2018, as compared with ₹189 crore during the same period last year.
Revenue from operations increased by 17 per cent to ₹2,772 crore during the quarter under review, as compared with ₹2364 crore in the same period last year.
Post GST, with effect from July 1, 2017, revenue from operations is disclosed net of GST. Accordingly, the revenue from operations and other expenses for the quarter ended June 30, 2018, are not comparable with the previous period, the company said in a note to the stock exchanges on Wednesday.
According to G Chatterjee, MD & CEO, Exide, volumes in the automotive and motorcycle batteries segment remained strong while growth in UPS, telecom, solar as well as other infrastructure segments continued to be good during the first quarter.
However, higher lead costs coupled with currency depreciation had an adverse impact on the margin of the business as a whole.
Total expenses during the quarter under consideration went up by nearly 17 per cent to ₹2,455 crore.
The company plans to focus on cost control and technology upgradation as part of its strategy to improve its bottomline.