Battery major Exide Industries today reported a 25.46 per cent decline in its net profit at Rs 135.52 crore for the quarter ended September 30, on account of higher expenses.
The company had posted a net profit of Rs 181.81 crore during the same period of the previous fiscal, Exide Industries said in a regulatory filing.
Total expenses during the quarter under review grew 10.56 per cent to Rs 2,137.23 crore as against Rs 1,932.97 crore in the year-ago period.
"Volumes in automotive and motorcycle batteries improved significantly and growth in UPS, telecom as well as other infrastructure segments were encouraging during the second quarter," Exide Industries MD and CEO G Chatterjee said.
He further said rapidly increasing lead prices continue to be a major concern.
Revenue from operations during the quarter stood at Rs 2,371.32 crore as against Rs 2,170.91 crore in the same quarter of the previous fiscal.
The company's board declared an interim dividend of Rs 1.60 per equity share of Re 1 each for the financial year 2017-18.
The company's stock closed 0.58 per cent up at Rs 209 apiece on BSE today.
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