Exide Industries Q3 Profit Down 22% to Rs 158 cr | Latest News
Exide Industries' Q3 profit declined by 22% to Rs 158 crore, attributed to a slowdown in government capex and other macroeconomic factors. Read more about the company's performance and future outlook.
New Delhi, Jan 28 (PTI) Battery manufacturer Exide Industries on Tuesday said its consolidated net profit declined 22 per cent to Rs 158 crore in the third quarter ended December 31, 2024.
The company had reported a net profit of Rs 203 crore in the year-ago period.
Revenue from operations rose to Rs 4,017 crore in the third quarter from Rs 3,980 crore in the year-ago period.
"Although overall sales remained flattish in the quarter, attributable to a slowdown in government capex and other macroeconomic factors, we observed promising growth in the auto replacement and auto exports market segments," Exide Industries MD & CEO Avik Roy said.
Near-term outlook is positive, with replacement markets remaining buoyant and expectation of rebound of government and private capex, which has the potential to drive up industrial demand, he added.
Commodity prices are expected to remain broadly stable, Roy stated.
"In our lithium-ion cell manufacturing project, construction work is going on in full swing and the team is working relentlessly to ensure project completion. We intend to commercialise operations in FY26," he added.
Shares of Exide ended 1.28 per cent down at Rs 343.40 apiece on BSE.
The company had reported a net profit of Rs 203 crore in the year-ago period.
Revenue from operations rose to Rs 4,017 crore in the third quarter from Rs 3,980 crore in the year-ago period.
"Although overall sales remained flattish in the quarter, attributable to a slowdown in government capex and other macroeconomic factors, we observed promising growth in the auto replacement and auto exports market segments," Exide Industries MD & CEO Avik Roy said.
Near-term outlook is positive, with replacement markets remaining buoyant and expectation of rebound of government and private capex, which has the potential to drive up industrial demand, he added.
Commodity prices are expected to remain broadly stable, Roy stated.
"In our lithium-ion cell manufacturing project, construction work is going on in full swing and the team is working relentlessly to ensure project completion. We intend to commercialise operations in FY26," he added.
Shares of Exide ended 1.28 per cent down at Rs 343.40 apiece on BSE.
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