Exide Industries,
country's largest lead acid storage battery manufacturer and stored energy
solutions provider, reported higher than expected net profit of Rs 152 crore
for the quarter ended June 2012, down 6.8% year-on-year. Analysts on average
had expected net profit at Rs 147 crore.
Revenues too grew better than
expected by 25% year-on-year to Rs 1,553.6 crore in the first quarter of FY13.
Analysts had forecasted at Rs 1,441 crore.
Operating profit margin came in at
15% as against 17.9% in a year ago period and 14.6% in the previous quarter.
Exide has posted a forex loss of Rs
10.3 crore during the April-June quarter as against gain of Rs 6 crore in a
year ago period.
On quarter-on-quarter basis,
revenues rose by 7% and profit after tax increased 6.5%.
Volume growth:
Industry battery segment, which now
accounts for 45% of total revenues, helped the company report good numbers.
Volume growth of this segment grew 19% as against 15% in the previous quarter.
Auto volume remained sluggish,
rising only 10% in four-wheeler auto battery division as against 7% in the
previous quarter. Two-wheeler battery volume went up 28% during the quarter.
Recovery has still been below trend
line due to macro concerns.
Other expenses were higher by 41% at
Rs 225 crore while other income declined to Rs 14.7 crore from Rs 30.7 crore as
Q1FY12 had higher dividend from subsidiaries.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
No comments:
Post a Comment