Auto Parts & Equipment firm Exide Industries announced Q3FY23 results: Q3FY23: Revenue from operations grew by 7% and 23%, YoY in Q3FY23 and 9MFY23, respectively. Operating profit margin improved during the quarter compared to the immediate previous quarter as input cost pressures eased. EBITDA margin has increased QoQ to 11.8% in Q3FY23, compared to 11.1% in Q2FY23. For 9MFY23, profits also grew handsomely as EBITDA and PBT are up 15% and 24% YoY basis. Strong growth in most business verticals, calibrated price hikes and multiple initiatives to optimise costs have driven profits. Commenting on the performance - Mr. Subir Chakraborty, MD & CEO, said 'Our operating profit margin increased QoQ in Q3FY23 as raw material price inflation eased. Our overall sales growth was 7% for the quarter, driven by volume growth in most verticals. In the first nine months of the current financial year, our performance remains strong as both sales and profit before tax have grown at a robust rate of 23% and 24%, respectively. In the coming months, we expect the demand scenario to be positive for both automotive and industrial verticals. We will continue to focus on increasing our market share through our diversified product portfolio and pan-India distribution network. We will also aim at improving margins by increasing the proportion of premium products in our sales mix and through aggressively driving cost optimisation initiatives. The multigiga watt lithium-ion cell manufacturing project undertaken by Exide fnergy Solutions Limited, a wholly owned subsidiary near Bengaluru, is progressing well and is on schedule.' Result PDF