Exide Industries on Tuesday reported a 15.7 per cent rise in standalone net profit at ₹280 crore for the first quarter ended June 30, up from ₹242 crore in the corresponding quarter of the previous year.

Revenue from operations was at ₹4,313 crore, up 5.9 per cent from ₹4,073 crore in the corresponding period of the previous year.

The company said that despite an increase in commodity prices, it has seen a growth in its operating profits and EBITDA supported by revenue growth and cost optimisation initiatives.

The company also said that during the first quarter, it has invested ₹200 crore as equity into the wholly owned subsidiary Exide Energy Solutions. With an additional equity investment of ₹75 crore in July, the total investment in EESL has gone up to ₹2,577.24 crore.

“Both automobile and industrial verticals have delivered growth and near-term drivers are promising,” Exide Industries managing director and CEO Avik Roy said.

“In our lithium-ion project, onsite construction and installation of production line equipment is underway,” Roy said.