Exide Q1FY24 results: Net profit at Rs 241 cr YoY; revenue up 4.2%

On a quarter-on-quarter basis, the revenue for operations was up 14.94% at Rs 3,542.96 crore

The standalone net profit of Exide for the first quarter of the current financial year (Q1YFY24) saw a rise of 6.87 per cent to Rs 241.94 crore, compared to Rs 226.38 crore for the corresponding quarter of the previous year, the company said in a BSE filing.

Sequentially, the net profit was up 16.4 per cent. In Q4FY23, the net profit of the company was Rs 207.80 crore.

The revenue from operations for Q1FY24 came in at Rs 4,072.61 crore, compared to Rs 3,906.78 crore year-on-year (YoY). This is an increase of 4.24 per cent.

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On a quarter-on-quarter (QoQ) basis, the revenue for operations was up 14.94 per cent. It was Rs 3,542.96 crore in Q4FY23.

The company's operational performance improved as earnings before interest tax, depreciation and amortisation (Ebitda) came in at Rs 432 crore in Q1FY24, as compared to Rs 387 crore in the corresponding period of the previous year.
 

The total income for Q1FY24 came in at Rs 4,091.82 crore, compared to Rs 3,938.96 crore YoY. This is a rise of 2.35 per cent.

On a QoQ basis, the total income was up 14.1 per cent. It was Rs 3,584.18 crore in Q4FY23.

Subir Chakraborty, managing director and CEO, said that the company's operating profits grew at a rate of 11. 7 per cent during the first quarter of the year.

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"We expect the overall demand scenario to be positive in the near-term and profitability levels to increase, supported by easing of input cost inflation and further realisation of cost efficiency initiatives," he said.