Exide posts Rs 210 crore profit for Q1 FY2019, up 11%

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.