Exide First-Half Net Jumps 64%

The net profit for the corresponding period last year stood at Rs 8.01 crore.

Sales, at Rs 224.51 crore, recorded a growth of over 56 per cent over the earlier period, while operating profit was up at Rs 31.12 crore against Rs 19.08 crore for the half-year ended September 30, 1995.

However, other income dropped by almost half to Rs 60 lakh from Rs 1.07 crore for the corresponding earlier period.

The companys provision for depreciation has more than doubled from Rs 2.40 crore in the last half-year to Rs 5.62 crore in current six-month period.

Provision for taxation stood at Rs 1.97 crore against Rs 1.10 crore in the earlier period.

 

The annualised earnings per share (EPS) of the company stood at Rs 10.60 against Rs 7.75 in the previous year.

Exides interest expenses stood at Rs 9.99 crore, a more than 50 per cent spurt over the corresponding period in the previous year. The company paid out Rs 6.49 crore towards interest expenses for the earlier period.

The companys modernisation-cum-expansion activities at Shamnagar, Chinchwad and Haldia are scheduled to be completed by the end of the year.

The civil works at the Hosur plant is nearing completion and trial production is expected to start in March 1997.

Of the total amount that the company paid towards the voluntary retirement scheme, Rs 72 lakh was amortised during the half-year ended September 30, 1996.