Exide Industries today reported a 57% increase in net profit at Rs 38.11 crore for the first quarter ended June 30, 2006 when compared with Rs 24.22 crore in Q1FY06.According to a release issued by the company to the BSE today, total income increased to Rs 441.99 crore from Rs 328.99 crore in Q1FY06."Our continued focus on research and development that helps us bring out international quality customer centric products is once again reflected in this quarter's stellar performance," S B Ganguly, executive chairman and chief executive officer of the company, said.Exide is planning Rs 120 crore capital expenditure in 2006-07. The company is also exploring manufacturing opportunities in Germany.
