Battery manufacturer Exide Industries today reported a 5.95 per cent decline in net profit at Rs 164.78 crore for the fourth quarter ending March 31. It had posted a net profit of Rs 175.21 crore in the January-March period of 2015-16, Exide Industries said in a BSE filing.
Total income from operations rose 11.36 per cent to Rs 2,225.43 crore during the quarter under review as against Rs 1,998.36 crore in the year-ago period. For the entire 2016-17 fiscal, the company reported a a net profit of Rs 693.64 crore. It had posted a profit of Rs 624.46 crore in the previous year.
Exide Industries CEO and MD G Chatterjee said: “Growth in UPS and home UPS batteries have shown improvement this quarter. However, rising lead price continues to be a major concern.
The company today said its Board has recommended a final dividend of 80 per cent at 80 paisa per share of Re 1 each.
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“The total dividend for the year ended March 31, 2017, including interim dividend of 160 per cent (Rs 1.6 per share) of face value of Re 1 each, paid during the year amounts to 240 per cent,” it said. Shares of Exide Industries were trading 4.97 per cent higher at Rs 233.45 apiece on BSE.