Exide Industries Net Profit Up 70.45% Sequentially
Nutan Gupta / 25 Apr 2014
Exide Industries announced its financial results for the fourth quarter and year ended 31st, March, 2014. The company has posted a good set of numbers in the current quarter but the net profit and turnover of the company has declined on a yearly basis.
Exide Industries, which is India's largest manufacturer of lead acid storage batteries and its biggest power-storage solutions provider has reported net sales of Rs 1608.55 crore for the quarter ended 31st, March, 2014 as against Rs 1541.31 crore in the corresponding quarter of previous year, showing a growth of 4.36%. The total income from operations of the company stood at Rs 1613 crore in the current quarter as compared to Rs 1543 crore in the same quarter last year.
The total expenses of the company for the quarter came in at Rs 1426.67 crore, of which Rs 1062 crore was the cost of material consumed. Profit from operations for the quarter was Rs 186.3 crore as compared to Rs 175.7 crore in quarter ended 31st, March, 2013 and Rs 110.9 crore in the immediately preceding quarter ended 31st, December, 2013. The PBIT margin for the quarter showed a slight increase to 11.58% as against 11.39% in the same period last year. On the other hand, the net profit of the company showed a major rise of 70.45% to reach Rs 132.14 crore in the current quarter as against Rs 77.52 crore in the same quarter last year. Also, the net profit margin for the company stood at 8.21%, which was 9.5% in the same quarter last year.
For the complete year, the company's net sales came in at Rs 5964.24 crore as compared to Rs 6071.37 crore for the year ended 31st, March, 2013. The net profit for the entire year stood at Rs 487 crore as against Rs 522.78 crore last year, down 6.82%.
The Board of Directors declared a final dividend of Rs. 0.70 per share. After considering the interim dividend of Rs 1.10 per share declared earlier during the year, the total dividend for the financial year 2013-14 comes to Rs 1.80 per share as compared to the total dividend of Rs 1.60 per share for the financial year 2012-13.
The company's MD & CEO, P K Kataky said that demand for both Automotive and Industrial battery remained subdued during the entire year. The company is focusing on Cost Control and Technology upgradation to improve profit.
Please follow this space for further updates.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.