Moneycontrol PRO
Outskill Genai
HomeNewsBusinessMarketsAmara Raja Energy & Mobility stock slips 4% post Q4 results

Amara Raja Energy & Mobility stock slips 4% post Q4 results

The demand for batteries in the automobile industry surged during the quarter, driven by over 21 percent year-on-year increase in vehicle production

May 29, 2024 / 14:00 IST
Amara Raja shares have rallied a massive 50 percent in the last three months.
     
     
    26 Aug, 2025 12:21
    Volume
    Todays L/H
    More

    Shares of Amara Raja Batteries pared all losses to trade over 4 percent lower to Rs 1,192 apiece on May 29, a day after the company declared its fourth quarter results.

    During the quarter, Amara Raja reported 61.4 percent year-on-year (YoY) jump in net profit at Rs 230 crore, while its revenue from operations climbed 19.5 percent to Rs 2,908 crore as against Rs 2,433.2 crore in the year-ago period.

    Follow our live blog for all the market updates

    Its EBITDA (earnings before interest, tax, depreciation and amortization) increased by 16.2 per cent to Rs 410.4 crore in the fourth quarter of FY24, up from Rs 353.2 crore in the fourth quarter of FY23. Margins, on the other hand, witnessed a slight blip, contracting to 14.1 percent from 14.5 percent reported during the quarter.

    The demand for batteries in the automobile industry surged during the quarter, driven by more than 21 percent year-on-year increase in vehicle production, Society of Indian Automobile Manufacturers (SIAM) data showed.

    Amara Raja's clientele includes leading automakers like Maruti Suzuki, Tata Motors, and Hero MotoCorp. Harshavardhana Gourineni, Executive Director of Automotive & Industrial Batteries, noted that the company experienced robust and sustained growth in both the industrial and automotive sectors, leading to a 10 percent increase in overall revenue.

    At about 1:40 pm, shares of the company were trading at Rs 1,210 apiece, down 3 percent from the last close. Amara Raja shares have rallied a massive 50 percent in the last three months.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

     

    Moneycontrol News
    first published: May 29, 2024 01:59 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347