Exide on 'full' battery!
By
Research Desk
about 11 years ago
Exide is amongst the top gainers on the BSE, up 5.5% at Rs.166.50 but this is after hitting a 3-year high at Rs.168.55.
The stock is zooming into the stratosphere, riding on the back of its exuberant Q1FY15 numbers. Improved sales and higher realizations helped the company clock a 16% (YoY) rise in net profit at Rs.167 crore. Net revenue was up 17% at Rs.1910 crore. Though demand from automotive and industrial segment remained subdued, it was improvement in automotive replacement battery sale and robust growth in inverter battery sale, for both auto as well as industrial which helped the company post this improved performance. Re-entry into the telecom sector is also helping.