Calcutta, Jan. 17: Storage battery maker Exide Industries has posted a 13.4 per cent decline in net profit in the third quarter at Rs 104.09 crore against Rs 120.21 crore in the previous quarter on the back of rising input costs and falling demand.
Total income declined 4.4 per cent to Rs 1,463.16 crore during the period against Rs 1,531.66 crore in the September quarter.
On a year-on-year basis, net profit remained flat even as total income grew 17.3 per cent from Rs 1,246.73 crore.
“The quarter witnessed a continuous upward move in the prices of lead combined with the rupee depreciation, which resulted in a significant cost push and consequent pressure on the margins which to some extent was compensated by the positive impact on the margins arising from the robust volume growth in the replacement segment,” managing director and CEO T.V. Ramanathan said.
The replacement market for automotive batteries saw a volume growth of 25 per cent during the quarter against the year-ago period.