Exide Industries Q3 net dips 25% at Rs 77 cr

Battery maker Exide Industries today registered 25.52 per cent decline in its net profit at Rs 77.52 crore for the third quarter ended December 31, 2013, hit by continuous slowdown in the market.

The company had posted a net profit of Rs 104.09 crore in the same period of previous fiscal.

Net sales of the company declined to Rs 1,301.41 crore for the third quarter, as against Rs 1,462.15 crore in the same period of corresponding fiscal, Exide Industries Ltd said in a filing to the BSE.

Commenting on the results, Exide Industries Managing Director and CEO PK Kataky said that continued sluggish demand had its impact on the performance of the company.

"In the replacement market, the demand for heavy duty and medium duty commercial vehicles including passenger cars used for commercial application remained subdued," Kataky added.

Shares of Exide Industries were trading at Rs 108.30 apiece on the BSE, down 3.35 per cent from its previous close.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture