Exide Industries

Exide’s profit went up 5.13 per cent to Rs 246 crore (30.43 million dollar) during June-September quarter, as compared to Rs 234 crore a year ago. According to analysts on average profit of Rs 236 crore was expected

The Indian battery maker Exide Industries recorded an improved profit in second-quarter on 11 November. This came after an increase in volumes and easing input costs.

Also, demand surged from the replacement and the original equipment manufacturer (OEM) segments as passenger vehicles’ demand surged, along with automakers reporting strong sales.

Exide’s profit went up 5.13 per cent to Rs 246 crore (30.43 million dollar) during June-September quarter, as compared to Rs 234 crore a year ago, said the company in an exchange filing.

According to analysts on average profit of Rs 236 crore was expected. The automotive and industrial sectors had been going under pressure due to pandemic-induced supply-chain crunches. And after Russia’s invasion of Ukraine, the prices of raw material too rose.

However, the sectors witnessed some relief after the prices of commodities like lead and crude oil cooled off and supply-chain constraints gradually softened. Adding to this, the industrial vertical saw a strong recovery from the last year as business activity surged, said the company.

Company’s revenue from operations surged 13.04 per cent to Rs 3,719 crore during the second quarter from Rs 3,290 crore a year ago. The shares of the were traded on higher side at 4.63 per cent year-to-date as per the last close,.