Storage battery maker Exide Industries on Friday reported a 7 per cent hike in its net profit at Rs 224 crore during the quarter ended June compared to Rs 210 crore in the same quarter of the previous financial year.
The net turnover totalled Rs 2,779 crore as compared to Rs 2,772 crore during the quarter ended June 30 last year. Profit before tax was higher at Rs 336 crore as against Rs 322 crore in the same quarter of last fiscal.
"The demand of automotive batteries remains under pressure while growth in uninterruptible power source (UPS), telecom as well as other infrastructure segments continued during the first quarter," said Managing Director and CEO G Chatterjee.
"The company is focussing on cost control and technology upgradation as strategies to improve the bottom line," he said in a statement.
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