Amara Raja Batteries Limited (ARBL) shares gained over 3 percent to trade at Rs 637 by 9:20am on August 14 after the company reported a 46 percent spike in net profit at Rs 192 crore for the April-June quarter.
The battery manufacturer posted 14 percent surge in revenue from operations to Rs 2,79 crore for the first quarter as against the Rs 2,620 crore reported last year, it said in an exchange filing.
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The company said that the revenue growth for the quarter was largely aided by robust volume growth in the automotive, telecom and UPS.
Jayadev Galla, Chairman and Managing Director of ARBL, said the company's significant growth in revenue and profits quarter-on-quarter was a direct testament to the customer’s trust in its product quality and reliability. "With our rapid movement in the Li-ion initiatives, we are poised for a strong future."
Amara Raja Batteries, the flagship company of the Amara Raja Group, is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.
The company has prestigious original equipment manufacturers like Maruti Suzuki India Limited, Hyundai Motors India Limited, Ford India Limited, Tata Motors Limited, Mahindra and Mahindra Limited, and many more as its clients. Its industrial and automotive batteries are exported to 32 countries across the globe.
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