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Amara Raja Batteries reports 14% increase in revenues over previous quarter in Q1 FY 24
Industry News- Aug 16,23
Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major, reported profit before tax of Rs 258.36 crores for Q1 of FY 24 registering a growth rate of 46 per cent over Q1 of FY23.
Amara Raja Batteries Limited shared the Q1 of FY 24 results. The Earnings Per Share (EPS) for Q1 of FY 24 is at Rs 11.27.
Standalone financial performance highlights: (Rs in crores)
The revenue growth was aided by healthy volume growth registered in the automotive after-market as well as from the telecom and UPS segments.
Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries says, “Our revenue and profit numbers are a testament to our sustained growth story. We will continue to build our product range, cater to newer segments, and strengthen our International operations.”
“In the New Energy segment, we have seen a healthy growth from chargers and increasing interest in cells and battery packs. We are moving quickly in our Gigafactory and advanced energy research and innovation center work" says Executive Director, New Energy Business, Vikramadithya Gourineni.
Speaking about the results, Jayadev Galla, Chairman & Managing Director of ARBL said, “We have witnessed significant growth in revenue and profits quarter on quarter, which is a direct testament of the customer’s trust in our product’s quality and reliability. With our rapid movement in the Li-ion initiatives, we are poised for a strong future.”
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