Live TV

Exide Industries Q2 net profit up 6% at Rs 125.76 crore

New Delhi: Battery maker Exide Industries today reported 6 per cent increase in net profit at Rs 125.76 crore for the second quarter ended September 30, 2014-15, amid higher expenses.The company had posted net profit
PTI
PTI October 20, 2014 17:08 IST

New Delhi: Battery maker Exide Industries today reported 6 per cent increase in net profit at Rs 125.76 crore for the second quarter ended September 30, 2014-15, amid higher expenses.

The company had posted net profit of Rs 118.63 crore in the July-September period of 2013-14 fiscal.

Net sales of the company in Q2, 2014-15 rose by 23.34 per cent to Rs 1,761.32 crore, as against Rs 1,427.95 crore in the year-ago period, Exide Industries said in a filing to the BSE.

Exide Industries MD & CEO P K Kataky said: "Though no improvement in demand for both automotive and industrial battery was experienced during the quarter, encouraging growth in our automotive and motorcycle replacement battery sales as well as improved telecom busings and UPS battery business resulted in improved performance."

Overall expenses of the company stood at Rs 1,588.53 crore, up 25.87 per cent compared with Rs 1,262.04 crore in the corresponding quarter last year.

For the half year period ended September 30, 2104, the company reported net profit of Rs 311.06 crore as against Rs 277.42 crore in the corresponding period a year ago.

Net sales in the half year period ended September 30, 2104, stood at Rs 3,670.93 crore as against Rs 3,054.28 in the corresponding quarter last year.

Exide shares closed at Rs 159.80 apiece, down 3 per cent, on the BSE.

More from business