Amara Raja Q1 PAT rises 23% YoY to Rs 245 cr

Revenue from operations stood at Rs 3131.19 crore during the quarter, up 13.01% year on year, mainly driven by YoY healthy volumes registered in the automotive after-market, OEMs, and export markets.

Profit before tax for the quarter was at Rs 328.66 crore, registering a growth of 23.45% from Rs 266.24 crore reported in the same period a year ago.

Harshavardhana Gourineni, executive director, Automotive & Industrial Batteries said, “Our revenue and profit numbers are a testament to our sustained growth story. In the last quarter, we have seen good traction from our international operations. This was spearheaded by the offtake of our indigenously designed AGM batteries. We are betting big on growing this space in the coming months.”

Jayadev Galla, chairman & managing director of ARE&M said, “We have witnessed significant growth in revenue and profits quarter on quarter, which is a direct testament of our customer’s trust in our product’s quality and reliability. The rapid movement in the Li-ion initiatives and the ongoing new additions to our advanced lead acid battery portfolio promise a very strong future.”

Vikramadithya Gourineni, executive director, New Energy Business, stated, “We have seen healthy growth from our chargers and battery packs business and have successfully forged partnerships with GIB and Highstar for our cell technology and commercialisation. We have also begun to successfully forge customer alliances, which gives us confidence on the steps we have taken so far. The construction of the first phase of our cell manufacturing and advanced energy research and innovation centre is proceeding in a phase-wise manner.”

Amara Raja Energy & Mobility (formerly known as Amara Raja Batteries) is an Energy and Mobility enterprise and one of the largest manufacturers of energy storage products for both industrial and automotive applications in the Indian battery industry. The company's industrial battery brands comprise PowerStack, AmaronVolt and Quanta. The company is a leading manufacturer of automotive batteries under the brands Amaron and PowerzoneTM, which are distributed through a large pan-India sale & service retail network.

Shares of Amara Raja Energy & Mobility rose 0.63% to settle at Rs 1,611.40 on Friday, 2 August 2024.