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Amara Raja Batteries Q1 net profit up 13%


New Delhi: Amara Raja Batteries has posted 13.19 per cent jump in its net profit at Rs 113.03 crore during the first quarter of the current fiscal on strong sales.

Its net profit was Rs 99.85 crore in the April-June quarter of last fiscal, the company said in a regulatory filing.

The net income of the company increased to Rs 1,779 crore during the April-June quarter of 2018-19, from Rs 1,671.28 crore in the year-ago period.

Its expenses rose to Rs 1,622.85 crore as against Rs 1,534.24 crore in the said period.

The company said that the demand for batteries in replacement market saw growth in all vehicles categories, including two wheelers.

Both the preferred brands, AMARON and POWERZONE, continued to perform exceptionally well, thereby increasing market share.

As for exports, South-East Asia and the Middle East contributed to phenomenal growth in the international business, it said.

“The demand from Telecom segment continues to be under stress owing to overall telecom scenario prevailing in the market. Barring this all other segments of the industrial business registered double digit growth,” the company added.

Amara Raja Batteries Vice Chairman and Managing Director Jayadev Galla said: “The economy of the country is poised to grow and provide opportunities for increasing production and consumption. In line with the growth and demand expectations, we are expanding capacities and adapting new technologies well in time.”

The company is engaged in the manufacture and marketing of lead acid storage batteries. It has incorporated had in July 2018 an wholly-owned subsidary in Sharjah.

Source: Economic Times