Exide Industries Q4 PAT up 37% to Rs 284 cr; sales at Rs 4,009 cr

New Delhi: Battery maker Exide Industries on Tuesday said its profit after tax rose 37 per cent to Rs 284 crore for the fourth quarter ended March 31, 2024.

The company had reported a profit after tax (PAT) of Rs 208 crore in January-March period of FY23.

Revenue from operations rose to Rs 4,009 crore in the period under review from Rs 3,543 crore a year ago.

For the year ended March 31, 2024, the company posted a PAT of Rs 1,053 crore as compared with Rs 904 crore in 2022-23. Revenue from operations rose to Rs 16,029 crore as against Rs 14,592 crore in FY23.

The company said its board has proposed a final dividend of Rs 2 per share for 2023-24.

"Demand scenario was upbeat, and our diversified and technologically advanced product offerings helped us capture the opportunities across end customer markets," Exide Industries MD & CEO Subir Chakraborty said.

Outlook is positive both for the automotive and industrial verticals and the company aims to deliver healthy sales growth and increase in profitability in near-to medium term, he added.

"Our lithium-ion cell manufacturing project is progressing well and is expected to be commissioned within defined timelines. We are positive about the future and are very well positioned to capitalise on opportunities both in the lead-acid as well as in the lithium-ion battery space," Chakraborty said.