The country's largest lead acid storage battery manufacturer, Exide Industries reported a 132 percent rise in its net profits to Rs. 130 crore in the third quarter of this fiscal year. The profit for the same quarter in 2008-09 was Rs. 56.15 crore.

T. V. Ramanathan, managing director and chief executive of Exide, said 'Apart from the low base effect, the robust profit growth is a direct result from volume growth, improved product mix and cost efficiencies secured on sourcing of materials, in addition to continued austerity measures'.

A higher profit and revenue of Rs 149.67 crore and Rs 950.70 crore was recorded for quarter ending September 09. A lack of demand in telecom sector was offset by growth in power, traction and other infrastructure segments. Company also managed a 16 per cent growth in net sales to Rs 912.57 crore with new launches and good after sales service.

'With the improved economic scenario, both domestically as well as internationally, we hope that the current momentum of growth will continue in the near term. However, volatility in the international lead prices remains a cause of concern,' he added.