Shares of this largest lead acid battery manufacturing company skyrocketed 10 per cent post its quarterly results
Amara Raja Batteries zooms on reporting 39 per cent rise in Q2 consolidated net profit
Amara Raja Batteries is currently trading at Rs 576.10, up by 56.30 points or 10.83 per cent from its previous closing of Rs 519.80 on the BSE. The scrip opened at Rs 548.00 and has touched a high and low of Rs. 579.75 and Rs. 543.05, respectively. The BSE group 'A' stock of face value of Rs 1 has touched a 52-week high of Rs 713.75 and a 52-week low of Rs. 438.15.
Amara Raja Batteries has reported results for the second quarter that ended on September 30, 2022. The company has reported a rise of 40.28 per cent in its net profit at Rs 202.17 crore for the quarter under review as compared to Rs 144.12 crore for the same quarter in the previous year. The total income of the company increased by 18.88 per cent at Rs 2723.13 crore for Q2FY23 as compared to Rs 2290.63 crore for the corresponding quarter previous year.
On a consolidated basis, the company has reported a rise of 39.43 per cent in its net profit at Rs 201.22 crore for the quarter under review as compared to Rs 144.32 crore for the same quarter in the previous year. The total income of the company increased by 18.94 per cent at Rs 2724.44 crore for Q2FY23 as compared to Rs 2290.59 crore for the corresponding quarter previous year.
Amara Raja Batteries Limited (ARBL), the flagship company of the Amara Raja Group, is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.
ARBL has prestigious original equipment manufacturers as its clients. The Company's Industrial and Automotive batteries are exported to 32 countries across the globe. In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, the UPS sector (OEM & Replacement), Indian Railways and Power, and Oil & Gas among other industry segments.