Amara Raja Batteries has posted a net profit of ₹100.30 crore for the second quarter ended September 30 as against ₹94.58 crore for the same period last year.
The company registered strong numbers based on volume growth. The company has registered higher income of ₹1,060 crore for the second quarter, up 32 per cent as against ₹805 crore for the corresponding quarter last year.
The company’s board, which met at Chongqing in China, approved the setting up of a tubular battery plant.
Jaydev Galla, Vice-Chairman and Managing Director, said, “The continuing growth momentum of the company is reflected by the highest revenue and profit for a quarter. The Greenfield expansion project for four-wheeler automotive batteries and the project for addition of two lines of expanding two-wheeler batteries capacity are progressing well. The proposed project for tubular battery manufacturing facility, approved at the board meeting will support to accelerate the growth momentum and secure us additional market share in the near future,” Galla said.
The automotive battery business continued to maintain its growth trend in four wheeler batteries backed by improved sales in aftermarket segment in both of the preferred brands Amaron and Powerzone. The continuing volume growth in two-wheeler battery brands has been a significant contributing factor to the business.
OEM sectorDuring the second quarter, original equipment manufacturer (OEM) production in four-wheelers reversed the downtrend of past years by growing moderately. The two-wheelers production grew at a healthy pace resulting in higher volumes in the OEM segment. The company attributed good numbers to the growth in aftermarket brands and OEM beyond industry growth in both two and four-wheeler segment. The Home UPS battery demand remained strong and was met by trading in tubular batteries under a private label programme.
Referring to the industrial battery business, the company stated that it registered a double digit volume and revenue growth aided by optimal product mix. The demand from telecom sector continues to be .
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.