Exide Industries Q2 Net Profit Misses Estimates After One-Time Loss
Exide Industries net profit declined in Q2, missing consensus estimates by Rs 46 crore.
Exide Industries Ltd.’s net profit declined in the July-September quarter, missing analyst estimates.
Net profit fell 25.5 percent year-on-year to Rs 136 crore as compared to the same quarter last year, falling short of the Bloomberg consensus estimate of Rs 182 crore. This was partially on account of an exceptional loss of Rs 41.83 crore that went towards settlement of a dispute with Exide Technologies, USA, the filing said.
Total revenue rose 23.2 percent to Rs 2,371.3 crore on a year-on-year basis. The consensus estimate of analysts tracked by Bloomberg had projected the topline at Rs 2,160 crore.
The Kolkata-based battery maker’s margins on earnings before interest, tax, depreciation and amortisation contracted 250 basis points to 12.5 percent. EBITDA rose 2.3 percent to Rs 295.8 crore.
Growth in UPS, telecom and other infrastructure segments proved to be positive this quarter, G Chatterjee, managing director and chief executive officer, said in a press release. Escalating lead prices continue to be a concern, he added.