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Exide Industries has reported a 21 per cent rise in net profit to Rs 164 crore during the January-March quarter of 2010-11. The higher profit came on 19 per cent growth in net sales compared with the corresponding period of 2009-10. Profit for the last fiscal moved up by 24 per cent to Rs 666 crore.
Backed by improved performance, the board of directors on Wednesday approved 60 per cent final dividend for the last fiscal over and above 90 per cent interim dividend declared during the course of the year. The total dividend for 2010-11 is 150 per cent or Rs 1.50 a share of face value of Re 1 each.
Commenting on the results, Mr P.K. Kataky, Director (automotive), told Business Line that the more profitable replacement sales grew 14 per cent in volume terms, during the last quarter. The OE (original equipment) sales to automakers were up by 24 per cent in volume terms.
“Both the OE and replacement sales grew reasonably during the fourth quarter of the last fiscal. We are expecting the trend to continue in the first quarter of this fiscal (2011-12),” he said.
On the input cost issues, Mr Kataky said that the company could manage the cost push through higher replacement market sales during the quarter.
Exide industries reported close to five per cent drop in net profit against 15 per cent rise in sales during the October-December 2010 quarter compared to the corresponding quarter in the previous year.
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