Exide net up by 54 per cent, turnover Rs 2383 cr

Kolkata, Apr 20 (UNI) Exide Industries Limited has registered a 54 per cent increase in net profit to Rs 155 crore and the gross turnover rose by 35 per cent to Rs 2383 crore in 2006-07 compared to the previous fiscal.

A company release said the company board has declared a dividend of 35 per cent thereby maintaining uninterrupted dividend payment track record for 59 years.

Commenting on the rise in profitability despite rising input costs, particularly lead, which accounts for close to 70 per cent of the costs, Exide Chief Executive Officer S B Ganguly said, "The continued economic boom and steady rise in automobile population ensures a steady demand growth across virtually all the segments.

However, the tight leash on costs helped us show profit growth." Referring to the rising cost of lead in international markets, Mr Ganguly said lead prices continued to grow despite growth in supplies.

UNI