Its standalone core operating profit of Rs.314.96 crore for the quarter, clocked a growth of 18.65% yoy and 18.77% qoq. Operating profit margin for the current quarter at 15.68% rose 99 bps yoy and 62 bps qoq.
Exide Industries Q1FY17: Demand for Automatative and industrial battery cheers revenue growth
For Q1FY17, Exide reported net revenue of Rs 2008.13 cr, which was 2.38% higher than IIFL estimate of Rs 196 cr. The company for the quarter reported an OPM of 15.68%, which was inline IIFL estimate of 16%.It reported a PAT of Rs 196.05 cr vs. IIFL estimate of Rs 188.2 cr beating estimates by 4.17%.
The overall increase in the automotive, industrial battery segment and decrease in inventories of finished goods of Rs72.89 cr compared to increase of Rs 29.31 crores previous quarter have improved the operational performance of the company. Rebate of Deffered tax amounting to Rs.9.62 cr aided bottom line growth.
Result Highlights: (Rs. in crore)
|Reported Results||IIFL Estimates||Variance (%)|
|Standalone Net Profit||196.05||188.2||4.17|
Standalone EPS for the quarter stood at Rs.2.31
“Demand in automotive and industrial battery have shown improvement in the last quarter, company is focusing on cost control and technological upgradation to improve profits.” said Mr. G Chatterjee, MD & CEO, Exide Industries Ltd.
Exide Industries Ltd ended at Rs. 179.35, down by Rs. 0.45 or 0.25% from its previous closing of Rs. 179.8 on the BSE.
The scrip opened at Rs. 182 and touched a high and low of Rs. 183.7 and Rs. 177.55 respectively. A total of 4635205(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 15244.75 crore.
The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 184.4 on 14-Jul-2016 and a 52 week low of Rs. 116 on 29-Jan-2016. Last one week high and low of the scrip stood at Rs. 184.4 and Rs. 171.95 respectively.
The promoters holding in the company stood at 45.99 % while Institutions and Non-Institutions held 35.41 % and 18.6 % respectively.
The stock traded above its 50 DMA.