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Exide Industries Q4 net profit at Rs.385.10 million, total income at Rs.5331.10 million
Posted On : 2007-04-20 09:17:10( TIMEZONE : IST )
Exide Industries Ltd has announced the following Audited results for the quarter & year ended March 31, 2007. The Company has posted a net profit after tax of Rs 385.10 million for the quarter ended March 31, 2007 as compared to Rs 258.90 million for the quarter ended March 31, 2006. Total Income (net of Excise Duty, VAT & Sales Tax) has increased from Rs 3849.40 million for the quarter ended March 31, 2006 to Rs 5331.10 million for the quarter ended March 31, 2007.
The Company has posted a net profit after tax of Rs 1552.10 million for the year ended March 31, 2007 as compared to Rs 1007.30 million for the year ended March 31, 2006. Total Income (net of Excise Duty, VAT & Sales Tax) has increased from Rs 13857.90 million for the year ended March 31, 2006 to Rs 18797.00 million for the year ended March 31, 2007.
The Unaudited consolidated results for the Year ended March 31, 2007 is as follows: The Group has posted a net profit of Rs 664.10 million for the year ended March 31, 2007 as compared to Rs 706.10 million for the year ended March 31, 2006. Total Income (net of Excise Duty, VAT & Sales Tax) has increased from Rs 14773.60 million for the year ended March 31, 2006 to Rs 19879.20 million for the year ended March 31, 2007.
The figures for the consolidated results year ended March 31, 2006 are audited. Commenting on the remarkable rise in profitability despite rising input costs, particularly lead which accounts for close to 70 per cent of the costs, executive chairman and chief executive officer, Mr. S B Ganguly said, "the continued economic boom and steady rise in automobile population ensured a steady demand growth across virtually all the segments. However, the tight leash on costs helped us show profit growth."
On the rising costs of lead in the international markets, Mr. Ganguly said, "lead prices continue to grow despite growth in supplies. However, the softer dollar during the last few months of the financial year ensured that this rise is negated to a certain extent."
On the subject of emerging domestic and international competition, Mr. Ganguly said, "a significant number of new cars that were launched during the year came exclusively fitted with our batteries. We are proud that we are the sole and exclusive supplier to Tata Motors and Toyota, among others."
