Tag: Exide Industries

Exide Industries Q1 net dips 3.59% at Rs 189 cr

Exide Industries Q1 net dips 3.59% at Rs 189 cr

27/07/2017 13:03

Battery manufacturer Exide Industries today reported a 3.59 per cent decline in net profit at Rs 189 crore for the quarter ended June.

It had posted a net profit of Rs 196.05 crore in the corresponding period a year ago, the company said in a filing to the Bombay Stock Exchange.

Total income grew by 4.80 per cent to Rs 2,389.57 crore during the quarter under review as against Rs 2,279.93 crore in the year-ago period, Exide Industries said in a BSE filing.

Exide Industries CEO and MD G Chatterjee said: “While growth in automotive and motorcycle batteries continue, demand in home UPS battery business has been subdued in the quarter…High lead prices continue to be a major concern”.

Exide Industries said it is focusing on cost control and technology upgradation as strategies to improve the bottom- line.

Meanwhile, shares of the company were trading at Rs 218.70 apiece, up 0.83 per cent from the previous close at 13:10 hours on BSE.