Exide registers 45.64 pc rise in net profit

New Delhi, July 20: Automotive and industrial battery maker Exide Industries Ltd today said it has posted a 45.64 per cent jump in its net profit at Rs 70.11 crore for the quarter ended June 30, 2007 as compared to Rs 38.11 crore in the same quarter last year.

The total income also grew from Rs 439.33 crore in Q1FY06 to Rs 664.54 crore during Q1FY07, a press release said.

Exide Industries Ltd said that the Board have given their approval for acquisition of 26 per cent stake in a joint venture company in Australia for marketing of traction batteries.

Further, the company has informed that, the Board has also approved the acquisition of the balance 49 per cent shareholding in its existing 51 per cent subsidiary Company - Caldyne Automatics Ltd.

UNI