Exide Industries reported an 11.38 per cent year-on-year (YoY) increase in consolidated net profit to Rs 198.61 crore in Q3FY23, led by growth in most business verticals, price hikes and cost optimisation initiatives. In the year-ago period, profit was at Rs 178.32 crore.
Revenue from operations was up 6.8 per cent to Rs 3,538.50 crore, driven by volume growth. The company said in the automotive vertical, overall volumes in the replacement market continued to grow and demand from OEMs was strong as supply-side constraints abated with chip supplies increasing globally. Strong demand was also seen in industry verticals such as railways, projects, telecom, solar and traction.
