Aftermarket volume for automotive and UPS batteries remains encouraging
On Friday, Exide Industries Limited reported a 16 per cent growth in net turnover to Rs 2,801 crore for the quarter ended December 31, 2020, from Rs 2,411 crore in the previous corresponding quarter. Profit before tax (before exceptional items) was Rs 320.03 crore for the quarter ended December 31, 2020, compared to Rs 250.27 crore during the corresponding quarter of the previous year, an increase of 28 per cent.
Profit after tax for the quarter ended December 31, 2020, was 23 per cent higher at Rs 241.44 crore against Rs 195.93 crore in the same quarter last year.
G Chatterjee, MD & CEO said that aftermarket volume for automotive and UPS batteries remains encouraging. Demand from original equipment manufacturers and other infrastructure segments have also started showing some positive indications during the quarter.