Exide Pakistan seems to be riding on the Automative Bull Run as the company posted its third consecutive Quarter in Profitability.
Exide announced its Financial Result for the 1st Quarter 2021 ended June,30th where the company posted a Net Profit of PKR24.9mn compared to a Loss of PKR228mn in the 1st Quarter of last year.
Last Year, the onset of the COVID19 pandemic and recession led to lower sales for the company. Moreover, increased competition in the market and lower demand due to a better energy supply situation in the country led the company to post loss.
During the current quarter, EXIDE announced Sales of PKR 4.6bn, almost 3x higher than the same quarter of last year. EXIDE gross margins increased to 10.2% for the quarter.
Below is the financial snapshot of Exide Limited for the first quarter ended 30th June 2021.
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