Amara Raja Batteries Q1 net up 8% to Rs 106 crore

Amara Raja Batteries today reported 8.34 per cent rise in its net profit at Rs 105.96 crore for the quarter ended June 30.

The company had posted a net profit of Rs 97.8 crore during the same period of previous fiscal.

Net sales of the company rose to Rs 1,024.85 crore during the first quarter as against Rs 886.85 crore in the same period of previous fiscal, Amara Raja Batteries Ltd said in a filing to the BSE.

"We are delighted to report the highest revenue and profit for a quarter. The greenfield expansion of automotive battery facility would accelerate the growth momentum and enhance market share," Amara Raja Batteries Vice-Chairman and Managing Director Jayadev Galla said.

During the quarter, the company said it has commenced supplies of two-wheeler batteries to Honda Motors India Ltd, for their plant in Karnataka.

The company's shares were trading 3.79 per cent up at Rs 517 apiece during afternoon trade on the BSE.