Exide Industries Ltd. Said on Tuesday that it has seen a 35 per cent increase in its net profit for the April-June period. This, said the company, is the result of higher sales coupled with better margins.

Good thing is that the results are much better than the analysts had predicted. Now they say that the volumes growth was there and it substantially helped the topline of the company also supporting the bottom line.

In April-June period, Exide showed a net profit of Rs. 65 billion which was much higher than Rs. 1.22 billion that it reported last year during the same period.

Net sales increased from Rs. 9.03 billion to Rs. 11.5 billion. A survey done by Reuters had shown that analysts expected the quarterly net profit to be around Rs. 1.43 billion and the sales close to Rs. 10.7 billion.

Said, T. V. Ramanathan, Chief Executive Officer, that the cost reduction has had a positive impact on the, financial of the company.

Meanwhile, Exide has acquired smelting and refining units in Pune and Bangalore. This has been done so that it is able to meet the requirement for lead and save itself from the price volatility in it.