Exide Industies Q2 net profit rises 42%
Exide Industries’ net profit rose 42 per cent to Rs 62.24 crore for the September quarter compared with Rs 43.74 crore for the same quarter, previous year. Total income has increased 47 per cent to Rs 668.29 crore for the year July-September period from Rs 453.58 crore a year ago.
“Lead price in the global markets continues to remain a source of serious concern for us. The current LME price of lead is above $3900 per MT as against $ 1945 per MT at the beginning of the financial year. However, with a significant portion of our business having been covered by price fluctuation clause, we have ensured that the adverse effect is minimised,” T Ramanathan, MD & CEO of the company said in a notice to BSE.
At 12:52 pm, Exide Industries shares were up 5.57 per cent at Rs 73 on BSE.
