Exide Industries Q1 net up 32%

Exide Industries has posted a 32% rise in its net profit at Rs 24.22 crore for the first quarter ended June 30, 2005 as compared to Rs 18.40 crore in Q1FY05.

According to a release issued by Exide Industries to the BSE, total income has increased to Rs 329.28 crore in Q1FY06 from Rs 271.89 crore in Q1FY05.

S B Ganguly, executive chairman and CEO, said, "apart from the duty reduction on lead, the replacement market for automotive batteries, where we enjoy 75% market share, also picked up considerably which contributed to our volumes and profitability growth. The boom that started in the country's automobile industry a few years ago is now being translated into replacement market sales for our products and brands. In industrial segment, sectors like telecom and power continue to show encouraging results."