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Exide Industries Q4 profit falls 5.95% at Rs164.78 crore

LiveMint logoLiveMint 04-05-2017 Soumonty Kanungo

Kolkata: Industrial and automotive battery maker Exide Industries Ltd on Thursday said its net profit in the March quarter at Rs164.78 crore had declined 5.95% year-on-year because of rising lead prices.

The earnings, which were better than expected, led Exide’s shares to jump 6.3% to Rs236.40 each on the BSE.

The company’s revenue rose 11.36% from the previous year to Rs2,225.43 crore. Rising input costs continues to be a “major concern”, a company statement quoted its managing director and chief executive officer Gautam Chatterjee as saying.

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