Exide net profit up 7% in June quarter

Battery major Exide Industries on Friday reported a seven per cent on-year increase in standalone net profit to Rs 224.29 crore in the first quarter of the current financial year.

The company had posted a standalone net profit of Rs 209.92 crore during the corresponding quarter a year ago.

During the April-June period, its net turnover was at Rs 2,779.25 crore, as against Rs 2,772.46 crore during the quarter ended June 30, 2018.

Commenting on the earnings, Exide MD and CEO G Chatterjee said demand of automotive batteries remained under pressure, while growth in UPS, telecom and other infrastructure segments continued in the reporting quarter.

The Kolkata-headquartered company is focusing on cost control and technology upgradation as strategies to improve the bottomline.