Exide Industries’ Q4 standalone net profit up 15%

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Mumbai, May 7 (IANS) Battery maker Exide Industries on Monday reported a 15.4 per cent rise in its standalone net profit for the fourth quarter of 2017-18.

The company reported a standalone net profit of Rs 189.56 crore for the quarter-ended March 31, 2018 compared to Rs 164.26 crore reported during the corresponding period of 2016-17.

Further, its total standalone income during the period under review rose by 10.94 per cent to Rs 2,479.69 crore from 2,235.21 crore earned in the same period of the previous financial year.

However, for the last financial year, the company reported a fall of 3.65 per cent in its net profit to Rs 668.35 crore from Rs 693.64 crore reported in the previous fiscal.

Commenting on the results, Exide Industries’ MD and CEO G.Chatterjee said: “Volumes in automotive, motorcycle, inverter, UPS, telecom and solar batteries as well as in other infrastructure segments were strong during the fourth quarter.”

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The company added that its Board has recommended payment of a final dividend of 80 per cent (Rs 0.80 per share of face value of Re 1 each) for the financial year ended 31st March, 2018.

“Consequently, the total dividend for the year ended 31st March, 2018 including the interim dividend of 160 per cent (Re 1.60 per share of face value of Re 1 each) paid during the year amounts to 240 per cent (Rs 2.40 per share of face value of Re 1 each),” the company said in a statement.

–IANS

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