Exide Q1 net dips 6.87% at Rs 152 cr

Exide Industries today said its net profit for the first quarter ended June 30 has dipped by 6.87% to Rs 152.03 crore mainly on account of increased raw material costs and exchange losses.

The company had posted a net profit of Rs 163.25 crore for the corresponding period of previous fiscal, Exide Industries said in a filing to the BSE.

Net sales of the company stood at Rs 1,551.08 crore for the quarter ended June 30, 2012 as against Rs 1,243.28 crore for the same period last fiscal.

Cost of the materials consumed rose to Rs 1,089.60 crore for the quarter under consideration from Rs 899.68 crore for the year ago period, Exide Industries said.

"The company had exchange losses of Rs 10.31 crore for the quarter ended June 30, 2012. In the same period previous year, it had a net exchange gain of Rs 3.86 crore," it added.

Shares of Exide Industries today closed at Rs 135.60 on BSE, down 1.53% from its previous close.