The country’s largest storage battery maker Exide Industries today reported nearly 9.7 per cent drop in net profit to ₹132 crore in the January-March 2014 quarter against the same period last year. The company recorded nearly 70 per cent rise in profit from ₹78 crore in October-December 2013. For the entire fiscal, the profit dropped by 6.8 per cent to ₹487 crore.
According to a press release, the board today approved a final dividend of 70 paise a share of face value of ₹1 each. On the BSE, the company’s shares closed at ₹126.30 on Friday, down by over 3 per cent from the previous close.