Friday, 5 May 2017

Exide Industries net profit down close to 6% in Q4

Battery major Exide Industries on Thursday reported close to 6 per cent year-on-year (y-o-y) fall in its net profit to Rs 164.78 crore for the quarter ended March 31, from Rs 175.21 crore for the corresponding period a year ago. During the quarter under review, its gross sales, however, increased over 11 per cent y-o-y at Rs 2,213.32 crore, as compared to Rs 1,991.67 crore, the company said in a BSE filing. Commenting on the results, G. Chatterjee, MD and CEO, said: "While growth in replacement sale of automotive and motorcycle batteries continues to be encouraging, demand in OEM business has also improved during the fourth quarter. Growth in UPS and Home UPS batteries have shown improvement during this quarter."

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