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Exide Industries Q2 profit up 26% at Rs 196 crore

Exide Industries Q2 profit up 26% at Rs 196 crore

  Banking on cost control and technology upgradation to improve its profit margins, Exide Industries posted an increase of near 26 per cent in its net profit at Rs 196.05 crore for the quarter ended June 30, 2016.

The net profit in the corresponding quarter of the last fiscal year stood at Rs. 155.71 crore.

The company's managing director and CEO, G Chatterjee said demand for both automotive and industrial batteries has helped the company perform better as its earnings improved in the quarter under review.

Exide Industries posted an increase of 11.66 per cent in its net sales at Rs 2,008.13 crore during the second quarter of the 2016-17 fiscal year as against the Rs 1,806.41 crore turnover in the similar quarter of the 2015-16 financial period.