Exide Industries Limited on Tuesday reported a 36.54 per cent year-on-year increase in its standalone net profit at Rs 283.75 crore for the quarter ended March 31 of financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 207.80 crore during the same period last year (Q4FY23).
Sequentially, net profit increased by 18.09 percent from Rs 240.27 crore last quarter.
The company’s operating revenue increased 13.16 per cent to Rs 4,009.39 crore in Q4 FY24 compared to Rs 3,542.96 crore reported in the previous year. On a quarterly basis, the turnover from operations stood at Rs 3,840.53 crore.
The company reported a total revenue of Rs 4,012.82 crore for the fourth quarter of FY24. This is an increase of 11.95 percent over the Rs 3,584.18 crore reported in during the period last year.
On a quarterly basis, total revenue increased by 3.87 percent. It was Rs 3,863.26 crore in the third quarter of FY24.
For the full financial year, the company recorded an increase in net profit of 16.52 per cent to Rs 1,052.96 crore, compared to Rs 903.63 crore reported at the end of FY23. The company’s operating revenue for FY24 increased by 9.84 percent to Rs 16,029.19 crore, compared to Rs 14,591.93 crore in the previous fiscal.
Exide Industries Ltd’s total income increased by 9.43 per cent to Rs 16,113.73 crore in FY24 compared to Rs 14,724.32 crore reported in FY23.
On Tuesday, Exide Industries Ltd announced an interim dividend of Rs 2 per share.
The company has appointed Avik Kumar Roy as its Managing Director (MD) and Chief Executive Officer (CEO) following the retirement of Subir Chakraborty.
At 2:12 p.m., the company’s share price was Rs 474.25.
First publication: April 30, 2024 | 2:12 p.m. STI
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