12 Kolkata: Exide Industries registered a 3.8% jump in net profit in the second quarter of the fiscal. Its Q2 net profit was Rs 298 crore this fiscal, up from Rs 287 crore last year. The revenue from operations grew by 4% to Rs 4,267 crore during the period. In the current quarter, EBITDA and PBT margins were 11.3% and 9.4%, respectively. The company witnessed robust demand in the two-wheeler and four-wheeler replacement markets.
Exide stated that industrial-UPS and solar sectors also enjoyed strong demand momentum during the quarter. However, demand scenario was soft in the home-UPS segment due to early onset of monsoon. "Excess channel inventories for Auto OEMs dampened demand across the Auto OEM space," it added.
MD & CEO Avik Roy said Exide was taking multiple strategic initiatives to leverage synergies across all business verticals. "We have undertaken organisational and business realignment, which will enable us to strengthen our go-to-market strategy and capitalise on the strong market demand. With our latest products and services and focus on cost efficiencies, we aspire to achieve strong growth in sales and profitability," he added.