Battery maker Exide Industries on Thursday reported a 36 per cent increase in consolidated profit after tax at Rs 320.17 crore in the fourth quarter ended March riding on robust sales growth.
The company had posted a consolidated profit after tax of Rs 235.57 crore in the same period a year ago, Exide Industries said in a regulatory filing.
Consolidated revenue from operations during the period under review stood at Rs 4,562.86 crore as compared to Rs 3,474.68 crore in the year-ago quarter, it added. For the financial year ended March 31, the company posted a consolidated profit after tax of Rs 803.10 crore as against Rs 762.48 crore, a growth of 5 per cent.
Consolidated revenue from operations for the financial year 2020-21 was at Rs 15,296.89 crore as against Rs 14,471.01 crore in the financial year 2019-20.
Commenting on the performance, Exide Industries Managing Director and Chief Executive Officer Gautam Chatterjee said in the fourth quarter the company posted impressive growth in both automotive and industrial division, while the after market demand for both automotive and UPS batteries remained strong.
For the full year, he said as a result of several strategies adopted by the company, it bounced back very strongly in the second half of the year and was able to surpass the sales it had reported for 2019-20.
The board of directors of the company on its meeting held on Thursday approved the elevation of Subir Chakraborty, to the post of Managing Director and Chief Executive Officer for a period of three years from May 1 to April 30, 2024.
He has been Chakraborty the Deputy Managing Director of Exide Industries since May 1, 2019. He joined the company in 1996 and has been serving as a director in the board for around eight years, the filing added.
Chakraborty will succeed Gautam Chatterjee, a veteran in the company for 39 years.
Chatterjee has been appointed as 'whole-time advisor' to the board of the company with effect from 1 May 1, 2021, for a period of three years, it added.