Double prop for battery major Exide’s net
Battery major Exide Industries has posted a 98.35 per cent growth in net profit for the quarter ended September 30, 2018, on the back of higher sales and income from the sale of unutilised land in Tamil Nadu.
The company had posted a net profit of Rs 268.41 crore for the quarter against Rs 135.52 crore in the corresponding period of the previous year.
Revenue from operations increased to Rs 2,720.35 crore from Rs 2,358.37 crore in the year-ago period. The company has also booked a profit of Rs 108.29 crore during the quarter from the sale of property at Guindy, Tamil Nadu. Total expenses increased to Rs 2,465.83 crore from Rs 2,124.28 crore in the year-ago period, an increase of 16.07 per cent.
Eveready Industries India has reported a 32 per cent decline in net profit at Rs 24.66 crore for the quarter ended September, owing to lower sales and a weak rupee. Net sales stood at Rs 383.49 crore in the quarter under review against Rs 398.25 crore a year ago.