Exide posts Rs 210 crore profit for Q1 FY2019, up 11%
The company reports a 33 percent growth in its net revenue in Q1 FY2019 with an increase of Rs 682 crore.
Exide industries one of the largest manufacturers of automotive and industrial and lead-acid batteries has reported turnover of Rs 2,772.46 crore in the first quarter of FY2019, a rise of Rs 682 crore from the same quarter in the previous year.
G Chatterjee, managing director and CEO, Exide Industries commented the that volumes in automotive and motorcycles batteries remained strong while the growth in UPS, telecom, solar as well as other infrastructure segments continued to be good during the first quarter.
However, he said that the margin of the business as a whole had been severely impacted due to the higher lead costs coupled with currency depreciation.
Going forward Exide Industries says it will focus on cost control and technology upgradation strategies to improve the bottom line growth.
RELATED ARTICLES
Uniproducts India targets 15% growth till FY2027, eyes new EV OEMs for NVH parts
The Noida-headquartered company, which is a leading manufacturer of roof liners, floor carpets, sound insulation materia...
Ford to build more EV software capability at Chennai tech hub
Ford Business Solutions India, which currently employs 12,000 personnel set to add 3,000 more; Ford, which is known to b...
ASK Automotive to set up JV with Aisin to sell aftermarket parts for cars
Ask Automotive will have 51% of the equity of the joint venture to be set up with Aisin Asia (Thailand) Company and Aisi...