Latest News | Exide Q2 Net Up 4 Pc at Rs 257 Cr

New Delhi, Nov 10 (PTI) Battery maker Exide Industries on Tuesday posted a 3.81 per cent increase in consolidated net profit at Rs 256.62 crore for the quarter ended September.

The company had reported a net profit of Rs 247.18 crore during the July-September period of the preceding fiscal.

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Revenue from operations rose to Rs 4,011.39 crore for the quarter under review, as against Rs 3,778.51 crore in the year-ago period, Exide Industries said in a regulatory filing.

Exide Industries MD and CEO G Chatterjee said there was improvement in demand for replacement sales of automotive and UPS batteries during the second quarter.

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Demand from original equipment manufacturers (OEMs) and other institutional customers also started showing some positive traction towards the latter part of the quarter, he noted.

The company is focussing on cost control, technology upgradation and cash flow management as strategies to improve profitability and liquidity, Chatterjee added.

(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)