Amara Raja Energy & Mobility reports 12.5% surge in net profit to Rs 226.3 crore in Q2FY24

Amara Raja Energy & Mobility, the flagship company of the Amara Raja Group, reported a consolidated net profit of Rs 226.3 crore during Q2 FY24 as against Rs 201.2 crore in Q2 FY23, marking a 12.5% surge.

The company's consolidated revenues from operations stood at Rs 2959.3 crore, a jump of 9.6% over the Rs 2700.5 crore registered in Q2 FY23.

Volume growth in the automotive aftermarket, as well as the telecom and UPS segments contributed to the revenue growth. The new energy business also witnessed good growth, the company said in a statement.

Harshavardhana Gourineni, Executive Director, Automotive and Industrial Batteries, says, “Our automotive and industrial businesses witnessed consistent performance. As a company, we are proceeding with renewed vigour by building our product range, penetrating new geographies, establishing new customer partnerships, and driving operational excellence.”

Amara Raja Energy & Mobility is among the energy storage product manufacturers for industrial and automotive applications in India.

It provides energy storage solutions, lithium-ion cell manufacturing, a wide range of EV chargers, lithium-ion battery pack assembly, automotive and industrial lubricants, and the exploration of new chemicals, among others.