Amara Raja Energy Profit Rises 26% In Q1

Amara Raja Energy & Mobility Ltd.'s profit rose 26% in the first quarter of fiscal 2024. The company's consolidated net profit increased to Rs 249.12 crore for quarter ended June 2024, compared with Rs 198.31 crore in the year-ago quarter, according to an exchange filing.

Revenue from operations of the company formerly known as Amara Raja Batteries Ltd. 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.