Exide Q3 net profit at Rs 34.85cr

New Delhi, Jan 18: Exide Industries today posted a net profit of Rs 34.85 crore for Q3FY07, up by 61.79 per cent, as compared to Rs 21.54 crore for the third quarter ended December 31, 2005.

The Q3 total income (net of excise and sales tax) increased to Rs 459.58 crore from Rs 339.26 crore for the quarter ended December 31, 2005, recording in increase of 35.46 per cent.

The company's executive Chairman and Chief Executive Officer, Mr S B Ganguly said, ''The rising demand in both automotive and industrial segments of our market, coupled with improved productivity and tight control on costs have helped us report yet another excellent financial quarter.'' However, the rising cost of lead in the international markets continues to remain a major cause of concern. Price rise in lead, particularly, in this quarter was severe, he added.

UNI