Hyderabad, February 2, 2020: Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT) today reported a revenue of Rs. 1747.81 crores in Q3 FY 20 (Rs. 1694.66 crores) with a growth of 3 % and profit after tax (PAT) of Rs. 164.41 crores (Rs. 130.89 crores). The Earnings Per Share (EPS) for Q3 FY 20 was at Rs. 9.63
For the quarter ended December 31, 2019 (Rs. in crores)
| Particulars | Quarter Ended | |
|---|---|---|
| December 31, 2019 | December 31, 2018 | |
| Net Revenue from operations | 1747.81 | 1694.66 |
| Profit After Tax | 164.41 | 130.89 |
OE and Telecom sectors continue to experience demand slow down. However, the replacement demand for AMARON, POWER ZONE and QUANTA batteries across market segments helped the company achieve healthy volume growth. Exports to countries in the Indian Ocean Rim geography continue to gain traction.
Commenting on the Q3 performance, S. Vijayanand, CEO, Amara Raja Batteries Limited commented, “Our focus on operational excellence and cost efficiency is helping us stay competitive under difficult economic conditions. The planned investments in capacity enhancement and technology upgradation are progressing as per schedule.”
Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, “The automotive sector is facing challenges of demand uncertainty due to social, regulatory and technological changes. The coming months will provide clarity on the medium and long term growth trajectory of this sector. We are closely tracking the emerging opportunities and will continue to leverage our strengths to tap into these opportunities at the right time.”
Amara Raja Batteries Limited is the technology leader and one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage 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.