NEW DELHI, July 27: Battery manufacturer Exide Industries today reported a 3.59 per cent decline in net profit at Rs 189 crore for the quarter ended June.
It had posted a net profit of Rs 196.05 crore in the corresponding period a year ago.
Total income grew by 4.80 per cent to Rs 2,389.57 crore during the quarter under review as against Rs 2,279.93 crore in the year-ago period, Exide Industries said in a BSE filing.
Exide Industries CEO and MD G Chatterjee said: “While growth in automotive and motorcycle batteries continue, demand in home UPS battery business has been subdued in the quarter…High lead prices continue to be a major concern”.
Exide Industries said it is focusing on cost control and technology upgradation as strategies to improve the bottom- line.
Shares of Exide Industries were trading 2.24 per cent higher at Rs 221.75 apiece on BSE today. (PTI)
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