Exide Q4 net dips 10% at Rs 132 cr

Battery maker Exide Industries today posted a 9.77% decline in net profit at Rs 132.14 crore for the fourth quarter ended March 31, 2014.

The company had posted a net profit of Rs 146.46 crore in the same period of previous fiscal.

However, net sales of the company rose to Rs 1,608.55 crore in the fourth quarter, as against Rs 1,541.31 crore in the same period of previous fiscal, Exide Industries said in a filing to the BSE.

For the year ended March, 31, 2014, the company posted a net profit of Rs 487.08 crore, as compared to Rs 522.78 crore in the earlier fiscal.

Net sales of the company declined to Rs 5,964.24 crore during 2013-14, as compared to Rs 6,071.37 crore in the 2012-13 fiscal.

The company's board, which met today, also recommended final dividend of 70%, Rs 0.70 per equity share of face value of Re 1 each, for the financial year ended March 31.

Exide shares today closed at Rs 126.30 apiece on the BSE, down 3.11% from its previous close.