Exide Industries' consolidated net profit surged 103% to Rs 239.87 crore on 18.1% rise in net sales to Rs 4,196.53 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) soared 104.50% to Rs 319.11 crore in Q3 December 2020 as against Rs 156.05 crore in Q3 December 2019. Current tax expense for the quarter jumped 58.8% to Rs 89.78 crore as against Rs 56.53 crore in Q3 December 2019.
Exide Industries reported a net turnover during the quarter ended 31 December 2020, at Rs 2,801 crore as compared to Rs 2,411 crore during the quarter ended 31 December 2019, recording a growth of 16.17% year-on-year (Y-o-Y).
G Chatterjee, the managing director (MD) and chief executive officer (CEO) of Exide Industries, said that while after market volume for both Automotive and UPS batteries remain encouraging, demands in OEM and other infrastructure segments also started showing some positive indications during the quarter.
Meanwhile, the board declared an interim dividend of Rs 2 per equity share for the FY 2020-21. The record date is set on 6 February 2021.
Shares of Exide Industries skid 2.32% to Rs 193.45 on Friday. Exide Industries manufactures batteries for automobiles, industrial use and for submarines.
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