Exide Industries has slipped over 7% to Rs 129 after reporting more than 100 bps year-on-year (yoy) decline in operating margins for the third quarter ended December 2012 (Q3) due to higher raw material cost.
The auto parts and equipment maker said its EBIDTA (earnings before interest, taxes, amortization and depreciation) or operating margins declined by 126 bps at 12.09% in Q3 FY13 from 13.84% last year.
The company has reported a marginal fall of 0.20% in its net profit to Rs 104.09 crore as compared to Rs 104.30 crore in the same period last year. Total income however, grew by 17% to Rs 1,475 crore on y-o-y basis.
The company’s total raw material cost increased by 24% to Rs 1,088 crore from Rs 874 crore during the recently concluded quarter.
The stock opened at Rs 127 on NSE and has seen a combined 4.19 million shares changing hands on the counter in early morning deals on both the exchanges.