Moneycontrol Bureau
Automotive battery manufacturer Amara Raja Batteries' third quarter earnings beat analysts' expectations on Tuesday. Profit shot up 33 percent year-on-year to Rs 136.2 crore during the quarter, led by overall strong performance.
Revenue increased 15.6 percent to Rs 1,225 crore in quarter ended December 2015 compared to Rs 1,059.6 crore in year-ago period.
Profit was expected at Rs 124 crore on revenue of Rs 1,186 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.
Operating profit (earnings before interest, tax, depreciation and amortisation) in Q3 jumped 27.2 percent to Rs 229 crore and margin expanded by 180 basis points to 18.7 percent on yearly basis. Analysts were expecting operating profit at Rs 209 crore and margin at 17.7 percent for the quarter.
At 14:37 hours IST, the scrip of Amara Raja Batteries was quoting at Rs 859, down Rs 17.30, or 1.97 percent amid high volumes despite better-than-expected earnings.
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