Exide Industries Q3 up 9.4% to Rs 151.49 cr

Exide Industries today reported 9.41 per cent increase in standalone net profit at Rs 151.49 crore for the third quarter of current fiscal, driven by sale of motorcycle batteries.
It had reported net profit of Rs 138.46 crore in the October-December period of last financial year, Exide Industries said in a BSE filing.
The company's total income moved up 12.16 per cent to Rs 1,949.56 crore during the quarter under review as against Rs 1,738.08 crore in the year-ago period.
"While growth in replacement sale of automotive and motorcycle batteries continues to be encouraging, demand in OEM business, particularly for motorcycle batteries, was extremely sluggish during the third quarter. Growth in UPS and solar batteries have shown improvement during this quarter," said Exide Industries MD & CEO G Chatterjee.

Total expenses during the quarter went up 15.14 per cent to Rs 1,772.11 crore as compared with Rs 1,538.96 crore in the same period last fiscal, the company added.
Exide Industries stock settled at Rs 194.85, down 1.02 per cent, on BSE.