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Exide reports 6 pc topline growth for Q4

Exide reports 6 pc topline growth for Q4

Mumbai: Storage battery maker Exide Industries on Tuesday reported net turnover of Rs 2,598 crore during the quarter ended March 31 as compared to Rs 2,459 crore in the last corresponding period.

The profit after tax (PAT) was higher at Rs 211 crore as against Rs 190 crore in the last corresponding period.

For the fiscal year ended March 31, the net turnover was Rs 10,588 crore as compared to Rs 9,186 crore in the previous year. The profit after tax was Rs 844 crore as compared to Rs 668 crore in 2017-18.

Gautam Chatterjee, the Managing Director, and CEO of Exide Industries said that volumes in automotive batteries as well as in UPS, solar and other infrastructure segments continued to grow during the fourth quarter.

“The company is focusing on cost control and technology upgradation as strategies to improve the bottom line,” he said in the statement.

Meanwhile, the board of directors re-appointed Chatterjee in the present position for another two years from May 1.

Subir Chakraborty has been appointed as Deputy Managing Director for two years while Arun Mittal is appointed as Director (Automotive) for five years.

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