Exide Industries fell 1.91% to Rs 205 at 11:45 IST on BSE after net profit dropped 25.46% to Rs 135.52 crore on 23.17% growth in net sales to Rs 2371.32 crore in Q2 September 2017 over Q2 September 2016.
The result was announced after market hours yesterday, 25 October 2017.Meanwhile, the S&P BSE Sensex was down 15.25 points or 0.05% at 33,026.75.
On the BSE, 2.75 lakh shares were traded on the counter so far as against the average daily volumes of 2.56 lakh shares in the past one quarter. The stock had hit a high of Rs 206.30 and a low of Rs 198.25 so far during the day. The stock had hit a record high of Rs 249.70 on 11 May 2017. The stock had hit a 52-week low of Rs 168.35 on 15 November 2016.
The stock had underperformed the market over the past one month till 25 October 2017, rising 1.63% compared with 4.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.75% as against Sensex's 2.04% rise. The scrip had underperformed the market in past one year, rising 3.41% as against Sensex's 18.70% rise.
The large-cap company has equity capital of Rs 85 crore. Face value per share is Re 1.
G Chatterjee, MD and CEO, Exide Industries said that volumes in automotive and motorcycles batteries improved significantly and growth in UPS, telecom as well as other infrastructure segments were encouraging during Q2 September 2017. However, rapidly escalating lead prices continue to be a major concern, G Chatterjee said. The company is focusing on cost control and technology upgradation as strategies to improve the bottom-line, he added.
Exide Industries manufactures batteries for automobiles, industrial use and for submarines.
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