Latest News | Exide Industries Q3 Profit Falls 22 Pc at Rs 158 Cr

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.

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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.

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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 above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)