Exide Industries reports another excellent financial quarter, net profit at Rs.34.85 Crores

Exide Industries Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit after tax of Rs 348.50 million for the quarter ended December 31, 2006 as compared to Rs 215.40 million for the quarter ended December 31, 2005. Total Income (net of Excise & Sales tax) has increased from Rs 3392.60 million for the quarter ended December 31, 2005 to Rs 4595.80 million for the quarter ended December 31, 2006.

Commenting on the results, the Company's executive chairman and chief executive officer, Mr. S B Ganguly said, "the rising demand in both automotive and industrial segments of our market, coupled with improved productivity and tight control on costs have helped us report yet another excellent financial quarter."

"However, the rising cost of lead in the international markets continues to remain a major cause of concern. Price rise in lead, particularly, in this quarter was severe. However, better pricing strength in the market helped us offset some of this rise in input costs," Mr. Ganguly added.

Source : Equity Bulls

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