Exide Q3 net profit flat at Rs 104 crore

Company's net sales during the period saw an increase of 17.34% at Rs 1,462.15 cr vs Rs 1,246.08 cr in Q3

Exide Industries, India's largest lead acid storage battery manufacturer and stored energy solutions provider, has posted a flat net profit of Rs 104.09 crore for the quarter ended December, 2012 compared to Rs 104.30 crore during the corresponding period of last fiscal.

However, the firm's net sales during the period saw an increase of 17.34% at Rs 1462.15 crore, as against Rs 1246.08 crore in the third quarter of the last financial year.

According to the company, rise in input cost coupled with rupee depriciation has significantly affected the margin in the quarter.

“The quarter witnessed a continuous upward move in the prices of lead which combined with Rupee depreciation vis-à-vis US Dollar  resulted in significant cost push and consequent pressure on the margins which to some extent was compensated by the positive impact on the margins arising from the robust volume growth in replacement segment,” T V Ramanathan, Managing Director and CEO, Exide Industries, said.

The replacement market for automotive batteries saw a volume growth of 25% as against the same quarter of the previous financial year. However, due to the de-growth in the OEM (original equipment manufacturer ) market, overall growth was only 13%, the company said in a statement.