Exide Industries net profit up 11% in Q1

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Kolkata, Aug 1 (IANS) Battery maker Exide Industries on Wednesday reported an 11 per cent increase in its net profit to Rs 209.92 crore in the quarter ended June 30, as compared to Rs 189 crore in the year-ago period.

Its net turnover for the quarter was at Rs 2,772.46 crore, as compared to Rs. 2,090.24 crore in the corresponding period of last financial year.

Commenting on the performance, the company’s Managing Director and CEO G. Chatterjee said volumes of automotive and motorcycles batteries remained strong while growth in UPS, telecom, solar as well as other infrastructure segments continued to be good during the quarter.

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

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