Calcutta, Oct 25: Exide Industries Ltd on Monday reported an 8.94 per cent rise in its first-half net profit to Rs 19.86 crore. In the first half of 1998-99, it earned a net profit of Rs 18.23 crore.The first-half turnover of the storage battery major has gone up 14 per cent to Rs 352.14 crore and operating profit increased by 10 per cent to Rs 68.36 crore (Rs 62.13 crore).
According to a release issued by the company, its sale of batteries in the passenger car segment has grown 27 per cent over the first half of the previous fiscal. The earlier uncertainty in the automotive market had given way to a marked increase of confidence with encouraging sales being recorded by Maruti, Hyundai Santro, Daewoo Matiz and Tata Indica, the release stated.
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