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regular-article-logo Wednesday, 24 July 2024

Exide Industries reports 7 per cent rise in standalone net profit at Rs 242 crore for June quarter

EBITDA margin in April-June period stood at 10.6 per cent, higher than the 9.9 per cent in Q1, 2022-23

PTI Calcutta Published 29.07.23, 09:40 AM
Representational image.

Representational image. File photo

Leading battery manufacturer Exide Industries on Friday reported a 7.1 per cent rise in standalone net profit at Rs 242 crore for the June quarter against Rs 226 crore in the year-ago period.

Revenue from operations witnessed an increase of 4.2 per cent year-on-year at Rs 4,073 crore in the first quarter (Q1) of the current financial year compared with Rs 3,907 crore a year ago.

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Earnings before interest taxes depreciation and amortisation (EBITDA) rose 11.7 per cent to Rs 432 crore in Q1, as against Rs 387 crore in the corresponding quarter of the previous fiscal year.

The EBITDA margin in the April-June period stood at 10.6 per cent, higher than the 9.9 per cent in Q1, 2022-23. Earnings per share also rose to Rs 2.85 in Q1 from Rs 2.66 a year ago.

“Despite facing firm raw material costs during the quarter, the company achieved impressive growth in operating profits,” the company said in a statement.

Exide said it remains optimistic about its growth prospects for the next quarters.

The Exide stock ended at Rs 251.15 per share on the NSE, down 1.8 per cent from its previous close.

SBI Cards

SBI Cards and Payment Services on Friday reported a 5 per cent drop in net profit to Rs 593 crore in the June quarter due to a rise in delinquencies.

The SBI-promoted card issuance company (SBI Card) had reported a net profit of Rs 627 crore in the April-June period of the previous fiscal.

Total income rose to Rs 4,046 crore against Rs 3,263 crore a year ago, SBI Cards said.

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