BENGALURU, Nov 11(Reuters) – Indian battery maker Exide Industries Ltd (EXID.NS)reported a better-than-expected second-quarter revenue on Friday pushed by a rise in volumes and easing enter prices.

There was additionally an uptick in demand from the substitute and the unique tools producer (OEM) segments as demand for passenger autos surged, with automakers reporting sturdy gross sales.

Exide’s revenue rose 5.13% to 2.46 billion Indian rupees ($30.43 million) within the June-September quarter, in contrast with 2.34 billion rupees a yr in the past, the corporate mentioned in an alternate submitting.

Analysts on common had anticipated a revenue of two.36 billion rupees, in line with Refinitiv IBES information.

The automotive and industrial sectors had been beneath strain as a consequence of pandemic-induced supply-chain crunches and as uncooked materials costs rose after Russia’s invasion of Ukraine.

However, the sectors noticed some reduction as costs of commodities corresponding to lead and crude oil cooled off and supply-chain constraints step by step eased.

Further, the commercial vertical witnessed a robust restoration from the earlier yr as enterprise exercise picked up, the corporate mentioned.

“We expect buoyant demand scenario to remain in the medium-term across most verticals and margin recovery to be supported by respite in input costs to some extent,” Subir Chakraborty, managing director and chief govt officer, mentioned.

Revenue from operations rose 13.04% to 37.19 billion rupees within the second quarter from 32.90 billion rupees a yr in the past.

Up to final shut, shares have been up 4.63%% YTD.

($1 = 80.8375 Indian rupees)

Reporting by Akansha Victor in Bengaluru; Editing by Janane Venkatraman

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