Exide Industries net profit up 16.92 pc in Jul-Sep

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SME Times News Bureau | 27 Oct, 2016
Exide Industries on Wednesday reported a 16.92 percent surge in its net profit at Rs 181.32 crore for the quarter ended September 30, compared with Rs 155.08 crore in the same period last year.

Its total income from operations during the quarter was Rs 2,174.55 crore compared with Rs 1,965.39 crore in the year-ago period.

Total expenses July-September quarter stood at Rs 1,932.41 crore as against Rs 1,747.87 crore in the corresponding period last fiscal.

Company MD and CEO G. Chatterjee said that demand for both automotive and industrial battery, have shown improvement during last quarter. Growth in automotive and motorcycle battery replacement sale has continued, along with improvement in volume of OEM business during this quarter.

Technology upgradation and cost control remain important part of the company's strategy to improve the bottomline, a company statement said.

The company declared interim dividend of Rs 1.60 per equity share of Rupee one each fully paid up for the financial year 2016-17 and the interim dividend shall be paid within 30 days of declaration, it said in a regulatory filing.

Its scrip closed at Rs 202.10 a piece, down 0.66 percent on the Bombay Stock Exchange from the previous close.