Amara Raja Batteries Limited has posted a marginally lower profit of Rs 130.89 crore for the third quarter ended December 31, 2018 as against a profit of Rs 134.45 crore for the corresponding quarter of the previous fiscal.

The batteries major achieved net revenue from operations of Rs 1695 crore for the third quarter, up 9 per cent as against Rs 1553 crore, for the same period of previous year. For the nine months ended December 2018, the company posted a profit of Rs 364.15 crore as against Rs 361.52 crore in the previous year. The total income was up at Rs 5266.83 crore as against Rs 4694.91 crore for the same period previous fiscal. The Automotive battery business has achieved strong volume growth across its business segments.

During the quarter, OEM segment was relatively subdued in line with overall production of vehicles in the country. The Industrial Battery Business saw moderate growth in the current quarter over last year same quarter. The market shares in all key segments continued to improve. The demand uncertainty for batteries in Telecom segment is continuing while other power back up applications show a steady demand.

Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, “The automotive business continues to perform better and we are critically evaluating the evolving trends in both the automotive and storage battery sectors and are building capabilities to take advantage of opportunities emerging from time to time”

S. Vijayanand, CEO, Amara Raja Batteries Limited said, “Volume growth in the automotive segment and steady demand in the industrial sector along with softened lead prices have helped in better margins on a sequential quarterly basis. Our capacity expansion projects are proceeding as per expected timelines and we are better prepared to meet the future demand across the product segments”.

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