Its revenue from operation in the quarter under review grew over 9 per cent stood at Rs 2,371.32 crore, up by 9 per cent from Rs 2,170.91 crore, according to a regulatory filing.
According to the company, the fall in net profit was on the back of Rs 41.83 crore expenses incurred due to settlement of the usage of "Exide" mark in India.A
"Exceptional item of Rs. 41.83 crore charged for the quarter represents expenses incurred towards settlement of dispute with Exide Technologies, USA in relation to the usage of the name or mark Exide," the company said in a statement.
The firm's MD and CEO G. Chatterjee said that volumes in automotive and motorcycles batteries improved significantly and growth in UPS, telecom as well as other infrastructure segments were encouraging during the second quarter. However, rapidly escalating lead prices continue to be a major concern.
"The company is focusing on cost control and technology upgradation as strategies to improve the bottom-line," he added.
The company board declared an interim dividend of Rs 1.60 per equity share of Re 1 each for the financial year 2017-18.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.