Exide Industries fell 1.82% to Rs 126.60 at 13:13 IST on BSE after net profit fell 1.31% to Rs 118.63 crore on 6.96% decline in total income to Rs 1435.74 crore in Q2 September 2013 over Q2 September 2012.
The result was announced during trading hours today, 23 October 2013.
Meanwhile, the BSE Sensex was down 251.44 points, or 1.21%, to 20,613.53.
On BSE, 3.89 lakh shares were traded in the counter compared with average volume of 1.03 lakh shares in the past one quarter.
The stock hit a high of Rs 130.90 and a low of Rs 125.10 so far during the day. The stock hit a 52-week high of Rs 150.90 on 7 December 2012. The stock hit a 52-week low of Rs 115.35 on 8 April 2013.
The stock had underperformed the market over the past one month till 22 October 2013, rising 1.94% compared with the Sensex's 2.97% rise. The scrip had also underperformed the market in past one quarter, falling 2.94% as against Sensex's 3.50% rise.
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The large-cap company has an equity capital of Rs 85 crore. Face value per share is Re 1.
Profit from operations before other income, finance costs and tax rose 5.94% to Rs 170.03 crore in Q2 September 2013 over Q2 September 2012.
Commenting on the performance, MD & CEO, Mr P K Kataky said, "The depreciation of the Indian rupee and continued sluggish demand had its impact on the performance of the company in the second quarter. The demand for both automobile (especially OEM) and industrial batteries (including infrastructure, telecom and inverter) remained subdued. To improve its performance the company has undertaken various cost control and technological upgradation initiatives. This will enable the company to succeed in its marketing efforts in a highly competitive market."
Exide Industries is a leading manufacturer of lead acid batteries for automotive, telecom, traction, UPS, naval and motive power markets.
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