The Hindu Business Line : Amara Raja Q2 net falls on forex fluctuation

Hyderabad, Nov. 1 Amara Raja Batteries registered sales of Rs 339.96 crore and a profit of Rs 18.79 crore for the second quarter ended September 30, 2008 against sales of Rs 256.16 crore and profit of Rs 20.61 crore for the corresponding quarter last year.

The revenue was up 33 per cent but net was lower due to the provision of Rs 12.9 crore towards translation loss as the rupee depreciated against the dollar. According to a company statement, the industrial battery segment continued to grow at a decent pace, driven by increase in demand from the telecom and UPS sectors.

While the slowdown in the original equipment market impacted the automotive battery segment, improved after-market sales has helped it maintain top line growth in the automotive battery business.

The Managing Director, Mr Jayadev Galla, said “the fast changing economic factors globally and the resultant impact in India present a great challenge. We will continue our close watch over the developments and work towards our targets.”

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