Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT), today, reported profit before tax of ? 302.57 Crores for Q3 of FY 23 which is a growth of 9% over Q2 of FY23.
The Earnings per Share (EPS) for Q3 of FY 23 was at ? 13.04.
| Particulars | Quarter Ended (Rs. in crores) | |
| December 31, 2022 | December 31, 2021 | |
| Net Revenue from operations | 2,637.24 | 2,365.07 |
| Profit Before Tax | 302.57 | 197.05 |
Revenue growth over the previous year was driven by healthy volume growth in the automotive sector in both the OEM and Aftermarket segments. Industrial battery volumes also witnessed strong growth, especially from the Telecom segment. Considerable volume growth is witnessed from lithium-ion battery packs and chargers for the mobility segment.
Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries says “Our sustained growth story emboldens us to continue building our product range, cater to newer segments, and aggressively strengthen our International operations.”
“We are moving quickly in our EV related business with the Gigafactory and E-hub development work while our chargers and packs continue to see good traction” says Executive Director, New Energy Business, Vikramadithya Gourineni.
Speaking about the results, Mr. Jayadev Galla, Chairman & Managing Director of the Company,added “Even in the face of global uncertainties and fears of recession in the domestic market we have managed to outperform financially. It is a testament to the customer’s trust in our product’s quality and reliability. Our recently announced Gigafactory plans will further strengthen our hold in the energy and mobility space.”
Amara Raja Batteries Limited is an Energy and Mobility enterprise and one of the largest manufacturers of energy storage products for both industrial and automotive applications in the Indian battery industry. In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, the UPS sector (OEM & Replacement), Indian Railways and to the Power, Oil & Gas, among other industry segments. Amara Raja’s industrial battery brands comprise PowerStack®, AmaronVolt® and Quanta®. The Company is a leading manufacturer of automotive batteries under the brands Amaron® and PowerzoneTM, which are distributed through a large Pan-India sales & service retail network. The Company supplies automotive batteries under OE relationships to Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors. The Company’s Industrial and Automotive Batteries are exported to countries in the Indian Ocean Rim.
Some of the statements in this news release that are not historical facts are forward looking statements. These forward looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward looking
statements. These risks include, but are not limited to, the level of the market demand for our products, the highly competitive market for the types of the products that we offer, market condition that would cause our customers to reduce their spending for our products, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and otherwise not specifically mentioned herein but those that are common to industry.