Exide Industries announces Q1 results

Exide Industries Ltd has announced the following Unaudited results for the quarter ended June 30, 2006:

The Company has posted a net profit after tax of Rs 381.10 million for the quarter ended June 30, 2006 (Q1 FY 06-07) as compared to Rs 242.20 million for the quarter ended June 30, 2005 (Q1 FY 05-06). Total Income (net of excise) has increased from Rs 3289.90 million in Q1 FY 05-06 to Rs 4419.90 million for Q1 FY 06-07.

"Our continued focus on research and development that helps us bring out international quality customer centric products is once again reflected in this quarter´s stellar performance," said Mr. S B Ganguly, executive chairman and chief executive officer of the Company.

"The Indian market for batteries across segments is fast maturing and customers are becoming more quality rather than price conscious. This positive trend will continue and gain momentum in future to help technology focussed Companies like Exide Industries," Mr. Ganguly added.

Source : Equity Bulls

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