Exide Industries Q4 net up 29% at Rs 178 crore

Battery manufacturer Exide Industries today reported a 29 per cent increase in its net profit at Rs 177.55 crore for the March quarter.

It had posted a net profit of Rs 137.59 crore in the January-March period of 2014-15, Exide said in a BSE filing.

Net sales of the company rose 6.8 per cent to Rs 1,756.29 crore during the quarter under review as against Rs 1,643.27 crore in the year-ago period.

For the entire 2015-16, the company reported a 16.13 per cent rise in its net profit at Rs 713.7 crore compared with Rs 614.55 crore in the previous year.

Net sales for the year were, however, marginally lower at Rs 9,479.44 crore as against Rs 9,534.95 crore.

The company today said its Board has recommended a final dividend of 80 per cent at 80 paisa per share of Re 1 each.

"The total dividend for the year ended March 31, 2016, including interim dividend of 160 per cent (Rs 1.6 per share) of face value of Re 1 each, paid during the year amounts to 240 per cent," it said.

Exide Industries shares today ended 1.19 per cent up at Rs 149.40 apiece on BSE.

(This news story is from The Economic Times)