Amara Raja Batteries posted a 97.7% rise in standalone net profit to Rs 123.94 crore on 63.8% increase in revenue from operations to Rs 1,885.86 crore in Q1 FY22 over Q1 FY21.
The auto ancillary company's profit before tax jumped 99.6% to Rs 167 crore in Q1 FY22 from Rs 83.68 crore in Q1 FY21. Even as the current quarter was impacted by lockdowns due to pandemic, Amara Raja said the aftermarket demand across product segments in both automotive and industrial segments remained strong. The company's automotive business revenue grew on the back of a very strong growth in exports and OEMs compared to last year. In the industrial business both Telecom and UPS applications have registered strong YoY growth.Jayadev Galla, vice chairman & MD and CEO of Amara Raja Batteries said While the uncertainties due to second wave of Covid and the resultant lockdowns are creating unpredictability in the product off take, we are focused on ensuring the product availability across all market segments by calibrating manufacturing operations and supply chain dynamically. Even as we prepare ourselves for the future opportunities in both the energy storage and e-mobility applications, we remain focused on maximising the value of the lead acid business by selective investments in expanding product portfolio and the geographies we serve.
Dr. Ramachandra N Galla, founder chairman, announced retirement with effect from 14 August 2021 after 36 years of service.
Amara Raja Batteries is an Energy and Mobility enterprise and one of the largest manufacturers of energy storage products for both industrial and automotive applications in the Indian battery industry.
Shares of Amara Raja Batteries closed 0.01% lower at Rs 729.40 on BSE.
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