Companies

Exide profit zooms 23%, powered by 16% revenue rise

Our Bureau Kolkata | Updated on January 29, 2021

Automobile battery major Exide Industries has reported a near 23 per cent jump in net profit to ₹241 crore for the quarter ended December 31, 2020. Standalone net profit in the year-ago period stood at ₹196 crore.

Its revenue from operations — net of trade discounts/incentives — increased by over 16 per cent year-on-year to ₹2,801 crore.

G Chatterjee, MD and CEO, said that while after-market volume for both automotive and UPS batteries remain encouraging, demand in OEM and other infrastructure segments have started showing some positive indications during the quarter.

The board has declared an interim dividend of ₹2 or 200 per cent per equity share of face value ₹1 each. The record date for the same has been fixed as February 6, 2021.

Published on January 29, 2021

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