Exide Q2 net profit more than doubles

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Exide Q2 net profit more than doubles. (Reuters) Exide Q2 net profit more than doubles. (Reuters)
SummaryThe company had posted net profit of Rs 51.10 cr for July-September quarter, 2011.

Leading battery maker Exide Industries today said its net profit more than doubled to Rs 120.21 crore for the quarter ended September 30, 2012 on account of robust sales.

The company had posted net profit of Rs 51.10 crore for the July-September quarter, 2011, Exide Industries said in a filing to BSE.

Net sales of the company rose to Rs 1,516.83 crore for the quarter, from Rs 1,171.84 crore in same period of previous fiscal.

The Board of Directors of the company has approved the payment of an interim dividend of Re 1 per equity share of Re 1 each for the financial year 2012-2013, the company said.

"The capital expenditure for the current financial year is estimated to be at Rs 250 crore," it added.

Exide Industries scrip was trading at Rs 149.25 on the BSE, down a steep 8.27 per cent from its previous close.

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