Exide Industries Faces Profit Dip Amidst Promising Growth Sectors

Exide Industries reported a 22% decline in net profit for Q3, totaling Rs 158 crore. Despite stable sales due to macroeconomic factors, growth was noted in auto exports and replacement markets. Revenues increased slightly to Rs 4,017 crore. The company aims to commercialize its lithium-ion project by FY26.

Exide Industries announced a 22 percent drop in its consolidated net profit for the third quarter, falling to Rs 158 crore as of December 31, 2024. The company had recorded a net profit of Rs 203 crore in the same period last year.

Revenue from operations slightly increased, reaching Rs 4,017 crore compared to Rs 3,980 crore a year ago. Despite overall flat sales, attributed to slowed government expenditure and other macroeconomic issues, the company noted promising growth in the auto replacement and export markets.

Looking ahead, Exide Industries remains optimistic, expecting strong performance in replacement markets and a rebound in government and private spending to boost industrial demand. The ongoing lithium-ion cell manufacturing project is progressing well, with the company planning to commercialize it by FY26.

(With inputs from agencies.)