Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major reported profit before tax of ₹ 176.96 Crores for Q1 of FY 23 which is a growth of 33% over the previous quarter.
The Earnings per Share (EPS) for Q1 of FY 23 was at ₹ 7.70.
Standalone financial performance highlights:
(₹ in crores)
|June 30, 2022||June 30, 2021|
|Revenue from operations||2,620.00||1,885.86|
|Profit before tax||176.96||167.04|
The company witnessed robust demand in the automotive sector from the aftermarket as well as 4-Wheeler and 2-Wheeler OEM segments. Industrial battery volumes have shown a healthy growth, especially in the UPS and telecom segments.
Mr. Jayadev Galla, Chairman & Managing Director of the Company, said “It is notable that even in the face of global uncertainties we have managed not only to outperform financially but also to launch new marketing and distribution initiatives to further strengthen our brands. We also continue to pursue value accretive growth opportunities in the Energy and Mobility space.”
Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries adds “The company is seeing some continued pressure to the margins due to increase in power and other input costs, however programs are in place to recover these costs during the balance of the year, including our captive solar generation.” “Our immediate focus continues to be on the expansion of our pack and charger business. We also continue to make bets on lithium cell technology and will be soon starting the implementation of our Customer Qualification Plant” says Executive Director, New Energy Business, Vikramadithya Gourineni.