Amara Raja Batteries surges 8% as Q3 profit beats estimate

The stock surged 8% to Rs 860 on BSE in intra-day trade after the company reported a better than expected 17% growth in net profit at Rs 1.98 billion in Q3FY18.

Amara Raja Batteries has surged 8% to Rs 860 on BSE in intra-day trade after the company reported a better than expected 17% year-on-year (Y-o-Y) growth in net profit at Rs 1.98 billion for the quarter ended December 2017(Q3FY18), on back of higher volume growth.

Net revenue from operations during the quarter under review grew 17% at Rs 15.53 billion, against Rs 13.27 billion in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, tax, depreciation and amortization) margin improved to 15.6% from 15.4%.

Analysts on an average had expected profit of Rs 1.24 billion on revenue