EV Stock which is one of the leading global players in battery and charging solutions jumped 4 percent in the day’s trade after it declared its quarter ended September (Q2FY24) results with a 20 percent jump in its net profit QoQ to Rs. 270 Crores.
At 2:12 p.m the shares of Exide Industries were trading at Rs. 267.30 up 4.30 percent from its previous day close price of Rs. 256.05 and its market capitalization is Rs. 22,690 Crores.
As per the company’s filing, Exide Industries have released their quarter ended September (Q2FY24) results and it is as follows.
Its revenue from operations grew 13 percent YoY from Rs. 3,841.13 Crores in Q2FY23 to Rs. 4,371.52 Crores in Q2FY24 and it grew 2.75 percent QoQ from Rs. 4,254.48 Crores in Q1FY24 to Rs. 4,371.52 Crores in Q2FY24.
Its Net Profit grew 12 percent YoY from Rs. 241.12 Crores in Q2FY23 to Rs. 270.32 Crores in Q2FY24 and it grew 20.61 percent QoQ from Rs. 224.11 Crores in Q1FY24 to Rs. 270.32 Crores in Q2FY24.
As per the company’s financial statements its revenue grew 17.9 percent from Rs. 12,789.22 Crores in FY22 to Rs. 15,078.16 Crores in FY23, accompanied by increasing profits of Rs. 694.31 Crores to Rs. 822.77 Crores.
It has reported a return on equity (ROE) of 7.58 percent and a return on capital employed (ROCE) of 10.96 percent, it is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 45.99 percent stake, the Domestic Institutional Investors hold 19.06 percent and the Foreign Institutional Investors (FII) hold 12.81 percent.
Exide Industries is one of the leading global players in battery and charging solutions for various industries, such as automotive, motion, energy, and data centers.
Written by: Bharath K.S
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