Amara Raja Energy & Mobility Limited (ARE&M), (formerly known as Amara Raja Batteries Limited), a comprehensive solutions provider in the Energy & Mobility space, on August 3 reported a 25.6 percent increase in consolidated profit after tax at Rs 249.12 crore in the first quarter ended June 30, 2024. The company had posted a consolidated profit after tax of Rs 198.31 crore in the same quarter last fiscal, Amara Raja Batteries Ltd (ABRL) said in a regulatory filing.
The company's April-June consolidated revenue from operations rose 16.70 percent to Rs Rs 3,263.05 crore, from Rs 2,796.27 crore in the year-ago period, it added.
Total expenses were higher at Rs 2,957.93 crore as compared to Rs 2,553.77 crore in the corresponding quarter last fiscal.
The revenue growth was aided by year-on-year healthy volumes registered in the automotive after-market, OEMs, and export markets, the company said.
Jayadev Galla, Chairman & Managing Director of ARE&M, said, “We have witnessed significant growth in revenue and profits quarter on quarter, which is a direct testament of our customer’s trust in our product’s quality and reliability. The rapid movement in the Li-ion initiatives and the ongoing new additions to our advanced lead acid battery portfolio promise a very strong future.”
On August 2, Amara Raja Energy & Mobility shares settled at Rs 1612.35 apiece on the NSE, which was up Rs 7.70 or 0.48 percent higher than the previous day's close.
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