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Exide Industries Q4 results: Sales soar to ₹4,009 crore, profit after tax jumps 37% to ₹284 crore
Exide Industries Q4 result: Profit after tax jumps 37% to ₹284 cr. “…very well positioned to capitalise on opportunities…,” says MD & CEO Subir Chakraborty.
Exide Industries, which designs and manufactures a wide range of lead acid storage batteries for the automotive, power, telecom, infrastructure projects, computer industries, as well as the railways, mining and defence sectors, has declared its Q4 results today and said that its board has proposed a final dividend of ₹2 per share for 2023-24.
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Exide Industries reported that its profit after tax (PAT) rose 37 per cent to ₹284 crore for the fourth quarter ended March 31, 2024 from ₹208 crore in January-March period of FY23.
Exide Industries’ revenue from operations rose to ₹4,009 crore for this period from the earlier ₹3,543 crore a year ago.
As far as the year ended March 31, 2024 period is concerned, Exide posted a PAT of ₹1,053 crore as compared with ₹904 crore in 2022-23.
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Exide’s operations revenue jumped to ₹16,029 crore as against ₹14,592 crore in FY23.
What worked for the company in this period was explained by Exide Industries MD & CEO Subir Chakraborty who said, “Demand scenario was upbeat, and our diversified and technologically advanced product offerings helped us capture the opportunities across end customer markets.”
The positive news also stretched onto the company’s outlook. Exide said that this aspect too is positive for both the automotive and industrial verticals. Exide indicated that it is looking to deliver healthy sales growth and increase in profitability in near-to medium term.
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Saying that the company is optimistic about the future and primed to seize opportunities, Chakraborty 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.”
