Amara Raja Batteries has reported profit before tax (PBT) of Rs 258.36 crore for Q1 of FY24 registering a growth rate of 46 percent over Q1 of FY23. During the same period last year, the company’s PBT was Rs 176.96 crore. The Earnings Per Share (EPS) for Q1 of FY24 is at Rs 11.27.
Standalone financial performance highlights:
| Jun 30, 2023 | Q1 FY24 | Q1 FY23 |
| Revenue from operations | 2,769.94 | 2,620.00 |
| Profit before tax | 258.36 | 176.96 |
The revenue growth was aided by healthy volume growth registered in the automotive aftermarket, as well as from the telecom and UPS segments.
Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries says, “Our revenue and profit numbers are a testament to our sustained growth story. We will continue to build our product range, cater to newer segments, and strengthen our International operations.”
“In the New Energy segment, we have seen healthy growth from chargers and increasing interest in cells and battery packs. We are moving quickly in our Gigafactory and advanced energy research and innovation centre work” says Executive Director, New Energy Business, Vikramadithya Gourineni.
Speaking about the results, Jayadev Galla, Chairman & Managing Director of ARBL said, “We have witnessed significant growth in revenue and profits quarter on quarter, which is a direct testament of the customer’s trust in our product’s quality and reliability. With our rapid movement in the Li-ion initiatives, we are poised for a strong future.”
