Amara Raja Batteries Q1 profit doubles to Rs 167 crore
Aug 14, 2021
Tirupati (Andhra Pradesh) [India], Aug 14 : Amara Raja Batteries Ltd (ARBL) on Saturday reported profit before tax of Rs 167 crore in Q1 FY22, nearly double from Rs 84 crore in the same period of previous fiscal.
Revenue stood at Rs 1,886 crore as compared to Rs 1,151 crore in the same period. Earnings per share for Q1 FY 22 work out to Rs 7.26.
Even as the current quarter was impacted by lockdowns due to pandemic, the aftermarket demand across product segments in both automotive and industrial segments remained strong.
The company said automotive business revenue grew on the back of strong growth in exports and OEMs compared to last year. In the industrial business, both telecom and UPS applications registered strong YoY growth.
"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," said Jayadev Galla, Vice Chairman, Managing Director and CEO.
"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."
ARBL is an energy and mobility enterprise. It is one of the largest manufacturers of energy storage products for both industrial and automotive applications in the Indian battery industry.
The company supplies automotive batteries under OE relationships to Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors. The company's industrial and automotive batteries are exported to countries in the Indian Ocean Rim.
