Kolkata: Exide Industries today said it has posted a net profit of Rs56.15 crore during the third quarter ended December as against Rs55.169 crore in the corresponding period last year.
The company registered a net sales of Rs787.71 crore during the quarter, a growth of 9.1% over the corresponding period when it registered sales of Rs 722.19 crore.
Lead and storage battery major booked exchange loss of Rs 18.35 crore during the quarter.
Its marketshare in the OEM automotive sector was remained the same despite slowdown and it registered a growth of 8% in the replacement market.
The industrial battery segment sales during the quarter was higher by 17%, but, it suffered pressure in the telecom segment.
Commenting on the Q3 performance, Exide managing director T V Ramanathan said, “the recent softening of lead prices in the international markets has not helped the company much due to the depreciation of rupee against the US dollar.”
“A strong balance sheet and a lower debt-equity ratio should enable the company to sustain a strong cash flow and to meet the challenges arising from lower bouyancy in the auto OEM market in the near term,” he added.