Exide Industries Limited reports Q2FY21 earnings

Exide Industries Limited, on Tuesday reported Net Turnover for the quarter ended September 30, 2020, of Rs. 2753.38 crores as compared to Rs. 2610.86 crores during the gua1ter ended September 30, 2019, a growth of 5.5%. Profit Before Tax was Rs. 305.17 crores for the quarter ended September 30, 2020 as compared to Rs. 281.18 crores during corresponding quarter of previous year, an increase of 8.5%.

Mr G Chatterjee, MD&CEO, said that there was improvement in demand for replacement sales of automotive and UPS batteries during the second quarter. Demand of OEM and other institutional customers also started showing some positive traction towards the latter part of the quarter. Operations at some manufacturing plants were intermittently disrupted due to the pandemic affecting supplies.

Company is focusing on Cost Control, Technology upgradation and Cash flow management as strategies to improve profitability and liquidity.

Shares of EXIDE INDUSTRIES LTD. was last trading in BSE at Rs.162.3 as compared to the previous close of Rs. 166.25. The total number of shares traded during the day was 283154 in over 5083 trades.

The stock hit an intraday high of Rs. 168.3 and intraday low of 161.4. The net turnover during the day was Rs. 46933376.

Source : Equity Bulls

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