Exide Industries net up 15% in Q2 FY'2019-20

Battery maker Exide Industries posted a 15.57 per cent rise in consolidated net profit at Rs 247.18 crore for the second-quarter (Q2) of the financial year 2019-20 compared to Rs 213.87 crore net clocked during the same period last year.

Consolidated total revenue from operations grew marginally by 3.86 per cent during the quarter under review to Rs 3,785.32 crore (Rs 3,644.54 crore), according to a company release. Profit before tax for the same quarter ended September 30, 2019, dipped to Rs 292.03 crore compared to Rs 319.58 crore clocked in the corresponding previous quarter ended September 30, 2018.

Commenting on the results, Exide Industries' MD & CEO Gautam Chatterjee said that while the demand of automotive batteries for OEMs remains under pressure, growth in replacement sales of automotive batteries, UPS, solar as well as other infrastructure segments, excluding telecom, continued during the second quarter.


He also informed that the company is currently focusing on cost control and technology upgradation as strategies to improve the bottom-line.