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Amara Raja Batteries Ltd has posted a net profit of Rs 123 crore for the quarter ended September 30, 2015 against Rs 100 crore logged in the corresponding quarter last year.
The batteries major recorded sales income of Rs 1,158 crore for the second quarter ended September 30, 2015, up 9 per cent, against Rs 1,060 crore in the corresponding quarter last year.
The company had closed last financial year ended March 31, 2015 with a net profit of Rs 411 crore and a turnover of Rs 4,210 crore.
Jaydev Galla, Vice-Chairman and Managing Director of Amara Raja, in a statement said, “We are delighted to report the highest revenue and profit for a quarter. The capacities in various plants of the company are operating effectively and supporting the growth and expansion in market share. We are geared up to expand the capacities further and introduce new products depending on market conditions.”
The automotive battery business continues its robust growth across verticals and the industrial battery business registered moderate volume growth over the second quarter of the previous financial year in a challenging and competitive market conditions.
The growth in demand from telecom sector is primarily driven by data growth and the drive for energy optimisation by tower companies. The demand for UPS batteries is moderate. Increased Imports due to the country’s preferential free trade ggreements with ASEAN are a concern since the raw materials continue to attract higher import duty.
Amidst these challenges, the industrial battery business improved the overall performance by virtue of its “preferred supplier status” with all major customers, efficient after sales service, customer relationship management, optimal product mix and consistent product performance of its flagship brands PowerStack, Quanta and QRS Series batteries.
The company has progressively started providing total solutions to customers enabling it to forge strategic alliances.
The company shares were trading at Rs 978, almost flat at about 2.30 pm today on the BSE.
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