Exide on Monday posted a net profit of 561.5 million rupees on net sales of 7,877.1 million rupees for Oct-Dec, 551.6 million rupees on net sales of 7,219.2 million rupees respectively the year ago.
A Reuters poll of analysts expected net profit of 756 million rupees on net sales of 8,164.67 million rupees. nBOM385511.
Cost measures and reducing imported raw materials coupled with improved sales mix enabled Exide to offset a larger slowdown in automobile sales, it said in a statement.
Exide had acquired 51 percent in a lead smelter Leadage Alloys in June last year. In October 2007, it had bought Tandon Metals Ltd to cut dependance on high-cost imported lead.
Lead constitutes about 70 percent of the material cost of a battery.
But "the recent softening of lead prices in the international markets hasn't helped the company much due to depreciation of the rupee against dollar," Exide said.
Exide, which retained its market share in the automotive segment, said steady growth in the replacement market enabled a volume growth of 8 percent in the quarter while its industrial batteries sales volume grew by 17 percent.
Shares of Exide ended down 1.44 percent at 44.40 rupees in a a weak Mumbai market that shed 3.15 percent
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