Exide Industries has posted a standalone net profit of INR208 crore for Q4’22, compared to INR4,120 crore in the same period in 2021, due to Rs4696 crore of one-time income related to the sale of its Exide Life Insurance Company. The company’s revenue from operations for Q4’22 increased by 3.7% to INR3,543 crore from INR3,417 crore last year. Managing director Subir Chakraborty said the rise in raw material prices affected profitability, but is working to provide advanced battery solutions while staying on track with its lithium-ion cell manufacturing project.
