Exide Industries Limited announced its fourth quarter and fiscal 2018 results. The company reported Net Turnover for the fourth quarter of 2018, of Rs 2459.41 crores as compared to Net Turnover Rs 1954.59 crores during the fourth quarter of 2017.
Profit After Tax for the same quarter ended March 31, 2018, was higher at Rs 189.56 crores as against Profit After Tax of Rs 164.26 crores for the corresponding quarter ended March 31, 2017, having a growth of 15%.
For fiscal 2018, the net turnover was Rs 9186.32 crores as compared to Rs 7583.47 crores in fiscal 2017, a growth of 21 %.
Profit after Tax was Rs 668.35 crores for fiscal 2018, net of 'exceptional item' charged in the second quarter of the current financial year, compared to Profit After Tax of Rs 693.64 crores in fiscal 2017.
The Board has recommended payment of a final dividend of 80% (Re 0.80 per share of face value of Re 1 each) for the financial year ended March 31, 2018. Consequently, the total dividend for the year ended March 31, 2018, including the interim dividend of 160% (Re 1.60 per share of face value of Re 1 each) paid during the year amounts to 240% (Rs 2.40 per share of face value of Re 1 each).
Mr. G Chatterjee, MD & CEO said that Volumes in Automotive, Motorcycle, Inverter, UPS, Telecom and Solar Batteries as well as in other Infrastructure segments were strong during the fourth quarter. The company is currently focusing on Cost Control and Technology up gradation as strategies to improve the bottom-line.