Home Business Results of the 4th quarter of 2022: Exide Industries Limited, Borosil Renewables...

Results of the 4th quarter of 2022: Exide Industries Limited, Borosil Renewables and Morepen announced the results of the March quarter; here are the highlights!

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Results of the 4th quarter of 2022: On Thursday, more companies announced quarterly results for January-March. Among the companies that announced their quarterly results were Exide Industries Limited, Borosil Renewables and Morepen Laboratories. Here are the key revenue indicators reported by these companies.

Exide results for the 4th quarter of 2022: the company, which deals with batteries, reported a net profit of 3953 kroons in the 4th quarter

Battery maker Exide Industries on Thursday reported consolidated net income of Rs 3,953 for the fourth quarter ended March 2022.

The company earned a net profit of 320 million rupees in the January-March 2020-21 fiscal year.

The battery manufacturer completed the sale of its division – Exide Life Insurance Company Ltd on January 1, 2022, which resulted in a profit of 4694 rupees.

Revenue from operations rose to 3,523 rupees in the fourth quarter against 3,024 rupees a year ago, Exide Industries said in regulations.

For the year ended March 31, 2022, the company earned consolidated net income of Rs 4,357. In fiscal 2021 it was Rs 803 million.

Revenue from operations was Rs 12,789 last fiscal year against Rs 10,359 in 2020-21.

“The company has managed to significantly reduce fixed costs; however, it failed to completely neutralize the inflationary impact of the sharp and steady rise in material prices combined with fuel and freight costs, which led to lower operating margins, ”said Exide Industries, MD and CEO Subir Chakrabarti.

The reduction in fixed costs was due to bold initiatives taken in the field of sales transformation and cost-cutting strategies, which are currently yielding excellent results, he added.

As part of its newly owned subsidiary Exide Energy Solutions, the company plans to set up a multi-gigawatt-hour lithium-ion cell plant, Chakrabarti said.

“Distributed across two popular chemical cells and three cell formats, this unit must be unique to meet the diverse requirements of customers in India,” he added.

The company said its board had declared an interim dividend of Rs 2 per share at a nominal price of Re 1 for 2021-22.

Shares of Exide Industries ended at Rs 148 on the NSE on Thursday and were up from closing on Wednesday.

Borosil Renewables results for the 4th quarter of 2022: net profit fell to 46.38 kroons in the March quarter

Borosil Renewables’ net profit for the quarter of 2022 fell to 46.38 billion rupees against 66.87 billion rupees in the same period last year, mainly due to lower revenues.

Total revenue fell to 182.33 rupees for the quarter from 196.90 rupees a year ago, regulatory documents showed on Thursday.

Its net income rose to 165.84 billion rupees in 2021-22 from 89.64 billion rupees in 2020-21. For fiscal year 22, total revenue increased to Rs 664.73 from Rs 507.63 in the previous fiscal year.

The company is only engaged in the flat glass manufacturing business, which is the only segment in terms of Indian standard operating segments (lnd AS-108).

shares ended in rupees on NSE on Thursday and rose compared to Wednesday’s closing price.

Morepen results for the 4th quarter of 2022: net fall of 55% to 12 kroner

Drug firm Morepen Laboratories said Thursday that its consolidated net income fell 55 percent to 12 rupees for the fourth quarter ended March 2022.

The company reported a net profit of 27 million rupees in the January-March 2020-21 fiscal year.

Total revenue increased to Rs 371 during the period under review compared to Rs 291 in the fourth quarter of the 2020-21 fiscal year, according to Morepen Laboratories in regulations.

For the year ended March 31, 2022, the pharmaceutical firm reported consolidated net income of Rs 102, compared to Rs 97 in fiscal 2021.

Total income increased to 1557 rupees during the period under review. A year ago it was 1,200 million rupees.

“The company was able to expand its market share and grow in all business segments and expects to increase profitability in the next few quarters as soon as supply disruptions return to normal, leading to increased input costs,” said Moreno Laboratories Chairman and CEO Director Sushil Suri. .

The company continues to invest in developing new markets and releasing new products to reach more and more customers, he added.

He went on to say: “We have received the shareholder’s permission to convert the bank’s preferred shares into share capital, which is ongoing while we await regulatory approval. This will be a major milestone for the company when the process is complete.”

Shares of Morepen ended at Rs 42.70 on NSE on Thursday and fell more than 11 per cent from Wednesday’s closing price.

With inputs from PTI

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