Exide Industries report 14% yoy growth in sales; Stock dips 1%

31 Jan 2022 , 03:38 PM

Exide Industries Ltd on Monday announced its results for the quarter ending December 2021, following this announcement, its scrip took a hit and dived 1.23% in today’s trade. It closed at Rs 173.25 against the previous closing price of Rs 175.35, down by Rs 2.10 or 1.20%.

The company reported revenue from operations at Rs 3,196.70 crore for Q3 FY’22 as against Rs 2,801 crore for Q3 FY’21, reflecting a growth of 14.1% YoY. While its revenue for the 9M period ending December 2021 stood at Rs 8,973.10 crore against Rs 7,102 crore for the previous 9M period, up by 26.3% YoY.

The company’s PAT narrowed by 14% YoY at Rs 204.10 crore for Q3 FY’22 against Rs 241.40 crore for Q3 FY’21. It reported PAT for the 9M period ending December 2021 at Rs 563.90 crore, up by 9.6% since the previous 9M period’s PAT at Rs 514.20 crore.

The company’s balance sheet remained strong with zero debts and a good liquidity position.

The company stated that the demand for industrial UPS remains high as the pickup in the commercial activity led to an increase in orders from offices and industries. The company’s presence in global markets continued to thrive in both the automotive and industrial verticals.