 "Amara Raja batteries, Exide")
Amara Raja Batteries, a leading industrial and automotive battery major in India, has posted a 41 per cent rise in net profit during the January to March quarter of 2022-23 to Rs 139 crore. This is compared to Rs 99 crore during the same period of the previous financial year.
During the period under review, the company’s revenue from operations also saw an increase of 11 per cent to Rs 2,429 crore, from Rs 2,181 crore during Q4 FY22. During the entire financial year 2022-23, its net profit zoomed by 35 per cent to Rs 695 crore compared to Rs 513 crore in 2021-22. For the entire year, revenue from operations also increased by 19 per cent from Rs 8,775 crore in 2021-22 to Rs 10,48- crore in FY23.
The Board of the Directors recommended a final dividend of Rs 320 per equity share (representing 320 per cent) on face value of Rs 1 each for the financial year 2022-23. Amara Raja Batteries recorded an impressive revenue growth in the last FY, on the back of strong volume growth in both automotive and industrial applications across all customer segments.
“This is a testament to our customers' trust in the quality and reliability of our products. As we embark on the next phase of our Energy and Mobility strategy, our continued commitment to R&D that delivers superior products in lead-acid as well as lithium will be crucial,” said Jayadev Galla, Chairman and Managing Director, Amara Raja Batteries.
"We observed robust and sustained growth in both industrial and automotive applications. We’ve always been the market leaders in 2W and now we are at the top even in the 4W segment. We are currently in the process of launching a new brand of batteries in the domestic market and expanding our international operations as well," said Harshavardhana Gourineni, Executive Director - Automotive and Industrial Batteries division of the company.
