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Exide Industries shares lost 3.9 per cent on in trade and registered an intraday low of Rs 437.7 per share on BSE. The downward movement in the stock can be attributed to the company posting a decline in net profit year-on-year (Y-o-Y).
Around 1:40 PM, Exide Industries shares were down 3.66 per cent at Rs 443.5 per share. In comparison, the BSE Sensex was down 1.63 per cent at 78,423.93. The market capitalisation of the company stood at Rs 37,697.50 crore. The 52 week high of the stock was at Rs 620 per share and 52 week low was at Rs 255.65 per share on BSE.
As per the company filing, Exide Industries reported a 14.14 per cent decline in net profit Y-o-Y to Rs 231.28 crore as compared to Rs 269.4 crore. On a quarterly basis, the profit increased by 5 per cent.
The company's expenses also increased 2.8 per cent to Rs 4,157.63 crore as compared to Rs 4,043.57 crore a year ago.
On the revenue front, the company reported an 1.8 per cent increase to Rs 4,450 crore as compared to Rs 4,371.52 crore a year ago. On a quarter-on-quarter (Q-o-Q) basis, the revenue increased marginally 0.32 per cent.
As per the filing, in the current quarter, Earnings before interest, tax, depreciation and amortisation (Ebitda) margins were at 11.3 per cent as compared to 11.8 per cent in the same quarter of the previous year.
During the quarter, Exide invested Rs 250 crore as equity in the wholly owned subsidiary, Exide Energy Solutions Limited (EESL). Additionally, nearly Rs 100 crore has been invested in October 2024. With this, the total equity investment made in EESL to date, stands at Rs 2,852.24 crore (including investment made in erstwhile merged subsidiary EEPL).
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"For the near-term, business outlook is positive and commodity prices have started easing, which is expected to support profitability," said Avik Roy, MD & CEO, Exide Industries.
Roy added: Onsite construction works of the lithium-ion project is proceeding well. All the functions including manufacturing, procurement, R&D, IT, finance, quality & safety, HR etc. are working relentlessly to ensure project completion.
In the past one year, Exide Industries shares have gained 79 per cent against Sensex's rise of 24 per cent.
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