Exide Industries Q4FY24 results: Net profit jumps 36% YoY to Rs 283 cr

Exide Industries Limited on Tuesday reported a 36.54 per cent year-on-year rise in standalone net profit at Rs 283.75 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 207.80 crore during the same period last year (Q4FY23). 

Sequentially, the net profit went up 18.09 per cent from Rs 240.27 crore in the last quarter.

The company’s revenue from operations increased by 13.16 per cent to Rs 4,009.39 crore in Q4FY24, compared to Rs 3,542.96 crore reported in the year before. On a quarter-on-quarter basis, the revenue for operations stood at Rs 3,840.53 crore.

The company reported a total income of Rs 4,012.82 crore for Q4FY24. This was a 11.95 per cent increase from Rs 3,584.18 crore reported during the year-ago period. 

On a quarter-on-quarter basis, the total income was up 3.87 per cent. It was Rs 3,863.26 crore in Q3FY24.

For the entire financial year, the company reported a rise in net profit by 16.52 per cent at Rs 1,052.96 crore, compared to Rs 903.63 crore reported at the end of FY23. The company’s revenue from operations for FY24 increased by 9.84 per cent at Rs 16,029.19 crore, compared to Rs 14,591.93 crore in the previous financial year.

Total income for Exide Industries Ltd increased by 9.43 per cent at Rs 16,113.73 crore in FY24, compared to Rs 14,724.32 crore reported in FY23.

On Tuesday, Exide Industries Ltd announced an interim dividend of Rs 2 per share.

The company named Avik Kumar Roy as it managing director (MD) and chief executive officer (CEO) following the retirement of Subir Chakraborty.

At 2:12 pm, the stock price of the company was Rs 474.25.

First Published: Apr 30 2024 | 2:12 PM IST