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  1. Exide Industries Q4 PAT rises 37% to ₹284 crore; sales at ₹4,009 crore

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Exide Industries Q4 PAT rises 37% to ₹284 crore; sales at ₹4,009 crore

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2 min read | Updated on April 30, 2024, 16:26 IST

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SUMMARY

Battery maker Exide Industries' performance for the entire financial year (FY) 2024 mirrored the positive trend. The company's PAT climbed to ₹1,053 crore, up from ₹904 crore in FY 2023. Similarly, revenue from operations grew to ₹16,029 crore compared to ₹14,592 crore in the previous fiscal year.

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Exide Industries Q4 PAT rises 37% to ₹284 crore; sales at ₹4,009 crore

New Battery maker Exide Industries on Tuesday said its profit after tax rose 37% to ₹284 crore for the fourth quarter ended March 31, 2024. The company had reported a profit after tax (PAT) of ₹208 crore in January-March period of FY23.

Revenue from operations rose to ₹4,009 crore in the period under review from ₹3,543 crore a year ago.

For the year ended March 31, 2024, the company posted a PAT of ₹1,053 crore as compared with ₹904 crore in 2022-23. Revenue from operations rose to ₹16,029 crore as against ₹14,592 crore in FY23. The company said its board has proposed a final dividend of ₹2 per share for 2023-24.

"Demand scenario was upbeat, and our diversified and technologically advanced product offerings helped us capture the opportunities across end customer markets," Exide Industries MD & CEO Subir Chakraborty said.

Outlook is positive both for the automotive and industrial verticals and the company aims to deliver healthy sales growth and increase in profitability in the near-to medium term, he added.

"Our lithium-ion cell manufacturing project is progressing well and is expected to be commissioned within defined timelines. We are positive about the future and are very well positioned to capitalise on opportunities both in the lead-acid as well as in the lithium-ion battery space," Chakraborty said.

Shares of Exide Industries closed 3.83% higher at ₹473 on NSE on 30 April, 2024.

This article has been sourced directly from the PTI news feed. Except for the headline and summary, no other changes have been made.

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