Country's largest lead acid storage battery manufacturer and
stored energy solutions provider Exide Industries ' net profit grew by lower than expected
135.7% year-on-year to Rs 120.2 crore in the quarter ended September 2012.
Analysts on an average had expected it at Rs 152 crore.
Operating profit margin rose by 460 basis points YoY to 12.3
percent during the quarter, which too was below forecast of 15.4 percent due to
higher raw material cost.
Revenue increased 29.45% - in-line with expectations - to Rs
1,516.8 crore in the second quarter of FY13 from Rs 1,172 crore in a year ago
period, indicating good growth in both auto and inverter battery segments.
Higher other expenses and employee benefits too added
pressure on the profitability.
Cost of materials consumed rose by 59% YoY to Rs 1,097 crore
and other expenses jumped 28% YoY to Rs 236 crore during the quarter.
Employee benefit expense increased to Rs 90 crore from Rs
64.4 crore.
At 13:23 hours IST, the share fell 7.5 percent to Rs 150.45
amid large volumes, which hit a new 52-week high of Rs 166.30 in early trade.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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