Exide Industries Ltd. has reported a profit after tax for the quarter ended December 31, 2016, of Rs. 151.49 crores on a gross turnover of Rs. 1945.55 crores as compared to profit after tax of Rs. 138.46 crores on a gross turnover of Rs. 1734.48 crores for the corresponding quarter ended December 31, 2015. For the preceding quarter ended September 30, 2016, the profit after tax was Rs. 181.32 crores on a gross turnover of Rs. 2168.97 crores.
For the nine-month period ended December 31, 2016, the profit after tax was Rs. 528.86 crores on a gross turnover of Rs. 6377.23 crores as compared to Rs. 449.25 crores on a gross turnover of Rs. 5735.91 crores for the corresponding period ended December 31, 2015.
The Managing Director and CEO, Mr. G. Chatterjee, said that while growth in replacement sale of automotive and motorcycle batteries continues to be encouraging, demand in OEM business, particularly for motorcycle batteries, was extremely sluggish during the third quarter. Growth in UPS and solar batteries have shown improvement during this quarter.
Technology upgradation and cost control remain important part of the company’s strategy to improve the bottom-line.