Exide Industries stands tall on Q1FY17 results

Exide Industries, the leading battery manufacturer has declared its Q1FY17 results on July 18, post market hours, wherein for the Q1FY17 the company has reported a net profit of Rs 196.05 crores. Net profits have seen a surge of 26 per cent as compared to Q1FY16. EBITDA for the period stands at Rs 314.96  crores. Total income from operations stands at Rs 2011.07 crore for the quarter as against Rs 1799.53 crore for the corresponding period of the previous fiscal.

Total Income from operation in Q1FY17, has increased by 12 per cent, and EBITDA has seen a surge of 18 per cent as compared to Q1FY16.

The shares will likely witness some positive movements in the early trade of July 19. On the other hand, the scrip on July 18 closed at Rs 179.35, marginally down by 0.25 per cent. The shares of the company are investor friendly as the stocks in the last 3 months have surged by 38 per cent and in the last 6 months the shares have given a return of 42 per cent.

The shares' 52-week High/Low stand at Rs 184.40/116. The shares are currently close to their 52 week high and it could be interesting o see the movement of scrips. Early pre-open market indicative indicates that the shares will be up, as the pre-open - indicative quantity is 4790 as at 9.10 am.

Exide Industries Limited., is an Indian company which manufactures storage batteries. The company's products can be segmented into three categories namely- automotive batteries, industrial batteries and submarine batteries. It has six manufacturing facilities located all over India.