Exide Industries announces Q2 results, to expand in Asia Pacific region

Exide Industries Ltd has announced the following unaudited results for the quarter ended September 30, 2006:

The Company has posted a net profit after tax of Rs 437.40 million for the quarter ended September 30, 2006 as compared to Rs 290.80 million for the quarter ended September 30, 2005. Total Income (net of Excise & Sales tax) has increased from Rs 3389.60 million for the quarter ended September 30, 2005 to Rs 4535.80 million for the quarter ended September 30, 2006.

Commenting on the first half results, the company’s executive chairman and chief executive officer, Mr. S B Ganguly said, "the galloping demand in both automotive and industrial segments of our market, coupled with improved production efficiency and tight leash on costs have helped us achieve yet another set of excellent financial numbers."

Talking about the future prospects of the Company Mr. Ganguly said, while fluctuating lead prices in the international markets remained a cause of concern, the healthy rise in demand across segments should keep the bottomline robust. "We are looking at the possibilities of expanding our production capacities not only to meet the rising domestic demand but also for the foreign markets, especially in the Asia Pacific region."

Source : Equity Bulls

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