Millennium Post

Exide Q4 net down 13 per cent to Rs 142.51 crore

Battery maker Exide Industries today reported a 12.93 per cent decline in net profit for the quarter ended March 31, 2012, at Rs 142.51 crore due to higher raw material costs.

The company had posted a net profit of Rs 163.68 crore in the same quarter a year ago.

Net sales for fourth quarter of 2011-12 stood at Rs 1,445.83 crore as against Rs 1,223.51 crore in the corresponding quarter previous fiscal.

During the period under review, the company said its cost of materials consumed increased to Rs 992.27 crore, as against Rs 888.23 crore in the corresponding period last fiscal.

For the fiscal 2011-12, the company said its net profit stood at Rs 446.06 crore as against Rs 618.82 crore, down 27.91 per cent.

Net sales for the fiscal stood at Rs 5,318.67 crore as compared to Rs 4,766.08 crore in the previous year, it added.

"During the year under review, lead prices continued to remain volatile with prices softening towards the end of the year. However, a counter movement in the rupee-dollar exchange rate negated most of what was gained due to softening of lead prices," the company said.

The company board has approved a final dividend of 60 paisa per share for a share of par value Re 1 for the fiscal 2011-12.

Added to the interim dividend of 90 paisa per share declared earlier during the year, this takes the total dividend payment for the financial year 2011-12 to Rs 1.50 per share (par value of Re 1) same as the previous year.

Shares of Exide Industries were trading at Rs 127.85 per share in the afternoon trade, up 0.16 per cent from the previous close on the BSE.
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