BENGALURU (Reuters) – Indian lead-acid battery maker Exide Industries Ltd reported a lower-than-expected quarterly revenue on Monday, damage by larger uncooked materials prices.

Exide’s internet revenue after tax was at 2.08 billion rupees ($25.45 million) for the quarter ended March 31, whereas analysts on common anticipated a revenue of two.52 billion rupees, in response to Refinitiv IBES information.

The firm’s 41.20 billion rupees internet revenue after tax from a yr earlier had included a one-time acquire from the sale of Exide’s insurance coverage unit to HDFC Life Insurance Company Ltd.

While Exide and different auto ancillaries benefitted from sturdy demand for autos and worth hikes within the quarter additionally they grappled with excessive prices of lead and different uncooked supplies.

Exide’s whole bills jumped 3.8%, together with a 12% rise in the price of supplies consumed.

The earnings earlier than tax, depreciation and amortisation (EBITDA) margin expanded marginally to 10.4% from 10.2% final yr.

“However, increase in raw material prices compared to the immediate previous quarter has impacted profitability on a sequential basis,” mentioned Subir Chakraborty, managing director and chief government.

The firm, which has purchasers within the auto, industrial, telecom and railway sectors, reported a 3.7% rise in income from operations to 35.43 billion rupees.

Overall volumes within the home marketplace for the automotive vertical registered year-on-year progress, whereas “demand was strong from original equipment manufacturer, with supply side constraints easing out during the quarter,” the corporate mentioned in an trade submitting.

The industrial verticals together with industrial UPS, photo voltaic, traction, telecom and energy noticed progress amid a rise in capex and financial exercise with sturdy order inquiry throughout the quarter, the corporate added.

Exide’s shares fell 0.5% briefly after the outcomes and have been up 3.5% as of two:16 p.m. IST.

The board of administrators really helpful a last dividend of two rupees per share for the monetary yr ended March 31, 2023.

($1 = 81.7380 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)