Amara Raja Batteries, the Industrial and automotive battery major, has reported a 40% jump in its consolidated net profit after tax, to Rs 139.42 crore. The net PAT for the corresponding year last year stood at Rs 98.85 crore.
The company reported an 11.7% jump in consolidated net revenues on a year-on-year basis. Revenues for Q4FYY23 stood at Rs 2,454 crore, versus Rs 2196.93 crore, in the year-ago period.
Amara Raja Batteries recorded an impressive revenue growth in the last financial year, on the back of strong volume growth in both automotive and industrial applications across all customer segments. It reported an increase in market share for both OEM and Aftermarket segments in automotive batteries, a strong growth in the Telecom and Data Centre segment on the basis of new digital platforms for enhanced customer support, and Lithium-Ion battery packs and chargers business saw 3X growth in the fiscal, the press release noted.
Jayadev Galla, Chairman and Managing Director, Amara Raja Batteries , said, “This is a testament to our customer's trust in the quality and reliability of our products. As we embark on the next phase of our Energy and Mobility strategy, our continued commitment to R&D that delivers superior products in lead-acid as well as lithium will be crucial.”
Harshavardhana Gourineni, Executive Director - Automotive and Industrial Batteries, mentioned, "We observed robust and sustained growth in both industrial and automotive applications. We’ve always been the market leaders in 2W and now we are at the top even in 4W segment. We are currently in the process of launching a new brand of batteries in the domestic market and expanding our international operations as well".