Exide Q1 results: Lead prices play spoilsport but revenue powers ahead
Tight cost management, along with lead recycling that has been Exide Industries' forte, helped partially alleviate the impact of rising raw material prices
Exide Industries Ltd put up a mixed performance for the June quarter (Q1). While revenue and profits raced past estimates, profitability was a tad lower, which pushed down the stock. The beat in net revenue, which powered ahead by 32.6% year-on-year, can be attributed to the buoyancy in the automotive segment that accounts for more than half its sales volumes.