Exide posts Rs 181 crore Q4 net profit; revenue at Rs 3,677 crore

Battery maker Exide Industries on Monday posted a consolidated net profit of Rs 181 crore for the fourth quarter ended March 31, 2023.

The company had logged a net profit of Rs 3,953 crore in the year-ago period, boosted by one-time income on account of sale of its subsidiary Exide Life Insurance Company Ltd.

Revenue from operations rose to Rs 3,677 crore in January-March 2023 as against Rs 3,523 crore in the year-ago period, Exide Industries said in a regulatory filing.

For the year ended March 31, 2023, the company reported a net profit of Rs 823 crore. It stood at Rs 4,357 crore in FY22 on account of sale of the subsidiary.

Revenue from operations stood at Rs 15,078 crore as against Rs 12,789 crore in FY22.

The company said its board has recommended a final dividend of Rs 2 per equity share of face value of Re 1 each for 2022-23.

Shares of the company were trading 2.59 per cent up at Rs 192 apiece on BSE.