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Amara Raja Batteries Ltd reports results for Q1 FY 24

Business |Financials

Profit before tax for the primary quarter of FY24 of 258.36 crores, indicating a growth rate of 46% over the first quarter of FY23. The EPS for the primary quarter of FY 24 is 11.27. The total revenue from operations was INR 2,769.94 Cr

1116 views | Date: August 16, 2023

Amara Raja Batteries Ltd reports results for Q1 FY 24

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Tirupati- Amara Raja Batteries Limited., an Indian manufacturer of industrial and automotive batteries, today announced profit before tax for the primary quarter of FY24 of 258.36 crores, indicating a growth rate of 46% over the first quarter of FY23. The EPS for the primary quarter of FY 24 is 11.27. The total revenue from operations was INR 2,769.94 Cr, up 9.3% compared to the same period last year, while the profit before tax was INR 258.36 Cr, up 69% year over year.

Healthy volume growth across the automotive aftermarket, telecom, and UPS categories has assisted in the revenue rise.

Mr. Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries said that the company’s revenue and profit are an indication to their sustained growth trajectory and he continued that they will be building a their product range in line to new segments and improve international operations.

Vikramadithya Gourineni, Executive Director, New Energy Business said that the company has seen a positive growth from chargers with respect to the New Energy Segment and they are transforming towards their Gigafactory and energy research and innovation center work.

Mr. Jayadev Galla, Chairman & Managing Director of ARBL said, “We have witnessed significant growth in revenue and profits quarter on quarter. With our rapid movement in the Li-ion initiatives, we are poised for a strong future.”