Kolkata: Storage battery major Exide Industries saw a 5.3% jump in net profit to Rs 258 crore in the third quarter of this fiscal, from Rs 245 crore during the same period last fiscal. Revenue from operations saw a 4.7% increase to Rs 4,030 crore from Rs 3,849 crore.
The company said GST 2.0 reforms, which came into effect towards the end of the second quarter, provided a major boost to the battery industry. The automotive industry's production volume growth across segments was in the mid to high teens range on a YoY basis.
Overall domestic business growth (ex. telecom) during Q3 was 10%. Export business continued to be significantly impacted amid tariff-linked challenges. Auto OEM business for the company grew over 25% on a YoY basis.
The two-wheeler and four-wheeler replacement business achieved its highest quarterly revenue, continuing to grow in double digits on a YoY basis.
Inverters and solar business was back on a growth trajectory after the monsoon-led slowdown.
Avik Roy, MD and CEO, said: "Q3 FY26 revenues showed a strong recovery post slowdown in Q2. GST 2.0 resulted in overall growth in the automotive sector, which Exide capitalised on."
"Macroeconomic conditions in India continue to be favourable, with low inflation, lower income tax rates, lower repo rates and positive consumer sentiment. However, metals such as silver, copper, sulphur and tin are at or near all-time high rates, contributing to increased cost pressures," he added.