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HomeBusinessExide Industries net profit rises to Rs 3,953 crore in Q4

Exide Industries net profit rises to Rs 3,953 crore in Q4

New Delhi, May 5 (PTI) Battery maker Exide Industries Ltd’s consolidated net profit rose to Rs 3,953 crore in the fourth quarter of the last financial year 2021-22. The company gave this information on Thursday.

The company had earned a net profit of Rs 320 crore in the same quarter of the previous financial year 2020-21.

The battery maker completed the sale of its arm Exide Life Insurance Company Limited on January 1, 2022. With this the company made a profit of Rs 4,694 crore.

Exide Industries said in a stock exchange information that its operating income increased to Rs 3,523 crore in the fourth quarter of 2021-22 from Rs 3,024 crore in the same quarter a year ago.

The company posted a consolidated net profit of Rs 4,357 crore for the year under review. In the previous financial year 2020-21, it was Rs 803 crore.

Operating income stood at Rs 12,789 crore in the last fiscal, as against Rs 10,359 crore in the previous fiscal.

The company said its board of directors has recommended an interim dividend of Rs 2 per share of face value of Re 1 for the previous financial year.

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