Amara Raja Energy Q1 Profit Up 26% to Rs 249 cr - Business News
Aug 04, 2024 16:38
Amara Raja Energy & Mobility (ARE&M) has reported a 26% increase in net profit for the June quarter at Rs 249.12 crore, driven by strong growth in automotive aftermarket, OEMs and exports.
Photograph: Rebecca Cook/Reuters
New Delhi, Aug 4 (PTI) Amara Raja Energy & Mobility (ARE&M) has posted about 26 per cent rise in consolidated net profit at Rs 249.12 crore for June quarter FY25.
It had reported a net profit of Rs 198.31 crore for April-June period of 2023-24, the company said in an exchange filing on Saturday.
Revenue from operations rose to Rs 3,263.05 crore from Rs 2,796.27 crore in the year-ago quarter.
Revenue growth was aided by year-on-year healthy volumes registered in the automotive after-market, OEMs (original equipment manufacturers), and export markets, the company said in a statement.
"In the quarter, we have seen good traction from our international operations. This was spearheaded by the offtake of our indigenously designed AGM (Absorbed Glass Mat) batteries. We are betting big on growing this space in the coming months," Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries said.
The company will continue to build its product range, cater to newer segments, and strengthen its global presence, he added.
ARE&M is into energy storage solutions, lithium-ion cell manufacturing, EV chargers, automotive and industrial lubricants, among others.
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