Exide Industries Q3 net up 1.81 pc at Rs 154 cr

Battery manufacturer Exide Industries today reported a 1.81 per cent increase in net profit at Rs 154.27 crore for the third quarter ended December 31, 2017.
The company had posted a net profit of Rs 151.52 crore in the same period last fiscal, Exide Industries said in a BSE filing.
Revenue from operations in the quarter under review stood at Rs 2,276.54 crore. In the year-ago period, revenue from operations was at Rs 1,935.37 crore, the company said.
Following implementation of GST in July last year, revenue from operations are disclosed net of GST, accordingly it is not comparable with the year-ago period, it added.

Exide Industries MD and CEO G Chatterjee said volumes in automotive and motorcycle batteries remained good while UPS, telecom and other infrastructure segments were buoyant.
"However, continued escalation in lead prices remains a major concern," he added.

The company said it is focused on cost control and technology upgradation as strategies to improve the bottomline.
Expenses in the third quarter were higher at Rs 2,057.43 crore, up from Rs 1,764.84 crore in the same quarter last fiscal.
Shares of Exide Industries ended the day at Rs 223.80 apiece, down 0.69 per cent from the previous close on BSE.