Exide Industries Limited has announced its unaudited standalone financial results for the quarter and half-year ended September 30, 2024, showcasing a strong performance amid challenging market conditions.
Financial Highlights:
Total Income: The company reported a total income of ₹4,320.11 crore for Q2 FY2024, slightly down from ₹4,326.91 crore in the previous quarter but an increase compared to ₹4,145.83 crore in Q2 FY2023.
Net Profit: Exide Industries posted a net profit of ₹297.77 crore for the quarter, reflecting a solid increase compared to ₹279.57 crore in the prior quarter and ₹287.00 crore in the same quarter last year. This demonstrates the company’s ability to maintain profitability despite market fluctuations.
Net Interest Income (NII): For the half-year period ending September 30, 2024, the company’s net interest income amounted to ₹8,580.06 crore, up from ₹8,179.27 crore in the corresponding half of the previous year.
The total expenses for the quarter were ₹3,920.98 crore, slightly lower than the previous quarter’s ₹3,952.86 crore and significantly higher than ₹3,760.96 crore reported in Q2 FY2023. This effective management of expenses contributed to the enhanced net profit.
