Aug 16, 2012, 03.11 PM IST

Amara Raja Batteries gains 22% in 5 days

Amara Raja Batteries gained as much as 11% intraday on Thursday after strong results in the quarter ended June 2012. The stock also touched a 52-week high of Rs 404 today.

Source: Moneycontrol.com

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Amara Raja Batteries gained as much as 11% intraday on Thursday after strong results in the quarter ended June 2012. The stock also touched a 52-week high of Rs 404 today.

The company's net profit jumped 95% year-on-year to Rs 76 crore in the first quarter. Net sales rose by 32% to Rs 691 crore from Rs 524 crore during the same period due to auto replacement segment and strong UPS segment performance.

Operational performance too was very strong due to lower lead prices in the quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) went up significantly to Rs 119.4 crore from Rs 67.7 crore in a year ago period and Rs 95.5 crore in the previous quarter.

Operating profit margin rose by 430 basis points YoY and 300 basis points QoQ to 17.2% in the June quarter.

Amara Raja's earnings were much better than management guidance until now. Management had a forecast for EBITDA margin at 14-15% average in FY13.

In five days, the stock gained 22%. Today at 14:58 hours IST, the share was trading at Rs 378.85, up 4.15% amid hefty volumes.

Its trading volumes increased 578% to 7,56,502 equity shares as compared to its 5-day average of 1,11,564 shares.