Exide Q4 profits drops on subdued demand

Tags: Companies
The subdued demand for automotive and industrial batteries has taken its toll on the quarterly profit of the Kolkata-headquartered Exide Industries Ltd. The leading battery maker on Friday registered a profit before tax (PBT) of Rs 196.1 crore on a turnover of Rs 1608.6 crore for the quarter ended March 31, 2014. This was down from the PBT figure of Rs 205.3 crore, earned in the corresponding quarter last year, on a turnover of Rs 1541.3 crore, an official communiqué from the company said. For the preceding quarter, which ended on December 31, 2013, the PBT had been Rs 115.5 crore on a turnover of Rs 1301.4 crore.

P K Kataky, managing director and CEO, Exide Industries Ltd, said this could possibly be attributed to the fact that the demand for both automotive and industrial battery remained subdued during the entire year. The company is now focusing on cost control and technology upgradation to improve profit, he said.

Although the profit before tax came down, the company’s profit from operations for the Q4 moved up from Rs 175.7 crore in the quarter ended March 2013 and Rs110.9 crore notched up in the immediately preceding quarter ended December, 2013, to Rs 186.3 crore, company officials said.

For the full financial year ended March 31, 2014, the profit before tax of the company was Rs 723.1 crore on a turnover of Rs 5964.2 crore as compared to a profit before tax of Rs 742.3 crore on a turnover of Rs 6071.4 crore earned in the financial year ended March 31 2013.

The Exide Industries’ board on Friday declared a final dividend of Re. 0.70 per share. After considering the interim dividend of Rs.1.10 per share declared earlier during the year, the total dividend for the financial year 2013 – 14 comes to Rs 1.80 per share as compared to the total dividend of Rs 1.60 per share for the financial year 2012–13, the communiqué said.

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