New Delhi: Battery main Exide Industries on Monday reported a consolidated net loss of Rs 13.56 crore within the quarter ended June 30, 2020 because of the impression of disruptions attributable to the COVID-19 pandemic. The company had posted a net revenue of Rs 161.58 crore within the corresponding quarter a year in the past.
Total earnings in the course of the quarter under review stood at Rs 2,537.55 crore as towards Rs 3,691.33 crore within the quarter ended June 30, 2019, Exide Industries said in a BSE submitting.
Commenting on the earnings, Exide MD and CEO G Chatterjee said COVID-19 pandemic and the resultant lockdowns to curb its sp prompted extreme disruption in manufacturing, provide chain, and gross sales and distribution operations of the company.
“This has caused an adverse impact on its sales as well as profitability during the quarter. The company is focusing on cost control and technology upgradation as strategies to improve the bottom-line,” he added.
Shares of Exide Industries on Monday settled 0.74 per cent decrease at Rs 154.50 apiece on the BSE.
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