Amara Raja Energy & Mobility, formerly known as Amara Raja Batteries, disclosed a profit before tax of Rs 313.32 crore for Q3FY24, representing a growth rate of 6.8% over Q2 of FY24. The Earnings per Share (EPS) for Q3FY24 stands at Rs 14.03.
In the same period, revenue from operations reached Rs 2,881.06 crore, marking an increase from Rs 2,637.24 crore reported in the corresponding period of 2022. The profit before tax for the current quarter is Rs 313.32 crore, reflecting growth compared to the previous year’s figure of Rs 302.57 crore for the same quarter.
According to a statement released by the company, the automotive battery business – both domestic and exports – experienced substantial volumes from the OEM and aftermarket segments compared to the previous quarter. The telecom sector’s growth served as a major driver for industrial battery volumes, which witnessed robust growth. Additionally, under the New Energy business, the company initiated the supply of battery packs to the telecom sector.
Jayadev Galla, Chairman and Managing Director of the Company, commented on the results, stating, “Our businesses have performed well in the last quarter despite economic challenges. We smoothly transitioned post the name change and introduced new products under our traditional battery business while expanding into newer segments under the New Energy business. This performance reflects the trust our customers have in our quality and reliability.”