Exide Industries hits 52-wk low; down 28% in two months on weak Q3 results

The stock hit a 52-week low of Rs 195, down 5 per cent on the BSE in intra-day trade on Wednesday in an otherwise firm market.

Shares of Exide Industries hit a 52-week low of Rs 195 apiece, down 5 per cent on the BSE in intra-day trade in an otherwise firm market. In the past two months, the stock of auto ancillary company slipped 28 per cent on reporting weak December 2018 results (Q3FY19). In comparison, the S&P BSE Sensex was down 2.3 per cent during the same period.

In Q3FY19, Exide Industries reported flat net profit at Rs 155 crore, due to lower other income and higher tax rate. It had a profit of Rs 154 crore in the year-ago quarter. Operational revenue grew 9.6 per cent