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2 min read | Updated on July 30, 2024, 15:33 IST
SUMMARY
After the company's Q1 results missed the estimates, the shares dropped at the bourses. The scrip reached an intraday low of ₹530 apiece on the NSE at around 3:05 pm, which was 4% lower as against the last closing price.
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Exide Industries' EBITDA during the quarter also grew by 15% year-on-year
This was 15% higher as compared to the net profit of ₹242 crore reported by the company in the year-ago quarter ended June 2023.
The Kolkata headquartered battery maker's revenue from operations increased by 5.8% to ₹4,313 crore in Q1FY25, as compared to ₹4.073 crore in Q1FY24.
While the net profit and revenue has grown year-on-year during the quarter under review, they have missed the estimates shared by analysts tracked by Bloomberg. The news agency, based on the estimates, had projected the net profit at ₹328 crore and revenue at ₹4,427 crore.
Exide Industries' earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 15% year-on-year to ₹494 crore, but significantly fell short of the estimate of ₹588 crore.
The EBIDTA margin increased by 80 basis points to 11.4% in the quarter ended June 2024, as compared to 10.6% in the same period of the previous fiscal year. However, the margin was short of the Bloomberg estimate of 13.2%.
After the company's Q1 results missed the estimates, the shares dropped at the bourses. The scrip reached an intraday low of ₹530 apiece on the NSE at around 3:05 pm, which was 4% lower as against the last closing price.
By the closing bell, the shares marginally recovered to trade at ₹532.75, still lower by 3.48% as against the previous session's close.
Year-to-date, the stock has given significant returns of about 65%, and the surge has been sharper at around 113.4% in the last 12 months.
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