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Exide Industries reports 11.06 pct rise in standalone net profit

Standalone revenue from operations of the company stood at Rs 2,772.46 crore for the quarter under consideration. It was Rs 2,363.72 crore for the corresponding period year ago.


PTI Last Updated at 01 Aug 2018, 14:08 IST India

Battery manufacturer Exide Industries today reported 11.06 per cent rise in its standalone net profit to Rs 209.92 crore for the first quarter ended June 30, 2018-19.

It had posted a net profit of Rs 189 crore for the April-June period of last fiscal, 2017-18, Exide said in a BSE filing.

Standalone revenue from operations of the company stood at Rs 2,772.46 crore for the quarter under consideration. It was Rs 2,363.72 crore for the corresponding period year ago.

Volumes in Automotive and Motorcycle Batteries remained strong while growth in UPS, Telecom, Solar, as well as other Infrastructure segments, continued to be good during to had the first quarter, Exide Industries MD and CEO G Chatterjee said.

However, higher lead costs coupled with currency depreciation had an adverse impact on the margin of the business as a whole, he added.

The company's stock was trading 2.92 per cent down at Rs 271.40 on BSE in the afternoon.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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