Amara Raja Q1 net up 9.24% at Rs 3.90cr

Amara Raja Batteries today posted 9.24% increase in net profit to Rs 3.90 crore for the quarter ended June 30, as against the same period last fiscal.

The industrial and automotive battery maker had posted a net profit of Rs 3.57 crore in the first quarter last fiscal, Amara Raja Batteries said in a statement.

For Q1, 2011-12, the firm posted a 18.11% rise in revenues to Rs 52.49 crore, from Rs 44.44 crore recorded in the year-ago period.

The company said the robust growth performance during the quarter was on the back of continued growth in battery sales to UPS segment.

"The export volumes grew significantly during the quarter, aided through our partnership with Bharti Airtel for their foray into African markets," it added.

The company said its automotive battery business has registered a decent growth due to significant growth in aftermarket operations in the Orginal Equipment Manufacturer (OEM) segment.

While we are satisfied with the Q1 performance, we foresee an environment of uncertainty due to global and domestic macroeconomic conditions," Amara Raja Batteries Managing Director Jayadev Galla said.

He said the firm will closely monitor the volatility in commodity and currency to address the margin pressure in the near-term.