Exide Industries net profit up 1.8% in Q3

Kolkata, Jan 31 (IANS) Battery major Exide Industries on Wednesday reported a 1.8 per cent year-on-year rise in its net profit to Rs 154.27 crore for the quarter ended December 31, 2017, as compared to Rs 151.52 crore for the same period a year ago.

During the quarter under review, the company's total income grew by close to 16 per cent over last year at Rs 2,287.59 crore as against Rs 1972.73 crore for the same period last fiscal.

Revenue from operation stood at Rs 2,276.54 crore as compared to Rs 1,935.37 crore for the corresponding period of 2016-17.

Commenting on the results, company's MD and CEO G Chatterjee said during the third quarter volumes in automotive and motorcycle batteries remained good, while growth in UPS, telecom and other infrastructure segments was buoyant.

"However, continued escalation in lead prices remains a major concern," he said, adding that the company is focusing on cost-control and technology upgradation as strategies to improve the bottom-line.

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