Calcutta, July 28: Exide Industries Ltd has reported a gross turnover of Rs 417.45 crore and a net profit of Rs 24.20 crore for the quarter ended June 30, 2005.

The turnover rose 23 per cent while net profit shot up 32 per cent over the corresponding period of the previous financial year. The performance is commendable as the price of lead, the main raw material, has been ruling high in the international market.

Chairman and chief executive officer S.B. Ganguly said: “Apart from the duty reduction on lead, the replacement market for automotive batteries, where we enjoy a 75 per cent share, has also picked up considerably, which contributed to our volumes and profitability growth.”

The automotive battery business of the company grew by 17.7 per cent.