Exide Industries Faces Profit Dip Amid Strategic Expansion

Exide Industries Ltd reported a 13.66% drop in profit to Rs 233.4 crore due to higher expenses. Despite robust demand in automotive and industrial sectors, early monsoons impacted home-UPS markets. The company is expanding globally and improving product offerings, while easing commodity prices could improve future profitability.

Exide Industries Ltd faced a 13.66 percent decline in its consolidated profit after tax, recording Rs 233.4 crore in the September quarter, as expenses soared, according to the company's latest regulatory filing.

Despite the drop in profit from Rs 270.32 crore in the same period last year, the company experienced strong demand in automotive replacement markets and industrial sectors. Total revenue rose slightly to Rs 4,450 crore from Rs 4,371.52 crore.

The firm is also focusing on expanding internationally, enhancing its product portfolio, and broadening its distribution network, even as commodity prices show signs of easing, promising better profitability outlooks, said MD & CEO Avik Roy.

(With inputs from agencies.)