Exide Pakistan Limited (PSX: EXIDE) released its 9MFY17 result yesterday, which saw healthy growth in the companys gross profit margins as well as its bottomline. This could be attributable to the rising demand in the automotive sector where the companys batteries are predominantly used.
Exide witnessed a 14 percent rise in revenue that contributed to the 35 percent year-on-year rise in gross profit. The gross profit margin was also up by almost 3.3 percent for 9MFY17 as compared to the same period in the previous year.
The company also managed to decrease its finance cost by an impressive 77 percent, whereas other income was boosted by 73 percent. This led to the bottomline registering a decent growth of 39 percent as compared to 9MFY16. The companys net margin increased marginally in comparison to 9MFY16 but the EPS rose from Rs47.75 in 9MFY16 to Rs66.02 in 9MFY17.
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