Exide Industries Reports Flat Performance in Q1, MarketsMOJO Gives 'Hold' Call
Exide Industries, a leading battery manufacturer in India, has recently announced its financial results for the quarter ending March 2024. The company has reported a flat performance for the quarter, with a slight improvement in its overall score.
According to the financial report, Exide Industries' Profit After Tax (PAT) for the quarter was Rs 184.74 crore, which is a decrease of 15.3% compared to the average PAT of the previous four quarters, which was Rs 218.02 crore. This indicates a negative trend in the company's near-term PAT performance.
Despite the decline in PAT, Exide Industries remains a largecap company in the battery industry. However, based on the financial results for the quarter, MarketsMOJO has given a 'Hold' call for the company's stock. This means that investors should hold onto their current positions in Exide Industries and not make any new investments at this time.
While the financial results for the quarter may not be as positive as expected, Exide Industries continues to be a major player in the battery industry in India. The company's performance will be closely monitored by investors and analysts in the coming months to see if there are any improvements in its financials.
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