Exide Industries slides after weak Q4 outcome

Exide Industries lost 3.95% to Rs 125.20 at 14:39 IST on BSE after net profit declined 9.77% to Rs 132.14 crore on 3.14% growth in total income to Rs 1622.79 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced during trading hours today, 25 April 2014.

Meanwhile, the S&P BSE Sensex was down 173.74 points or 0.76% at 22,702.80.

On BSE, so far 6.71 lakh shares were traded in the counter as against average daily volume of 3.63 lakh shares in the past two weeks.

The stock hit a high of Rs 133.10 and a low of Rs 121.50 so far during the day.

Exide Industries' net profit fell 6.82% to Rs 487.08 crore on 2.43% decline in total income to Rs 5997.27 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

On consolidated basis, Exide Industries' net profit declined 0.85% to Rs 544.66 crore on 30.48% growth in total income to Rs 8379.65 crore in FY 2014 over FY 2013.

Exide Industries' MD & CEO Mr P K Kataky said that demand for both Automotive and Industrial battery remained subdued during the entire year. The company is focusing on cost control and technology upgradation to improve profit, Exide Industries said in a statement.

Exide Industries is a leading manufacturer of lead acid batteries for automotive, telecom, traction, UPS, naval and motive power markets.

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