Amara Raja Batteries (ARBL) reported revenue of INR 2,769.94 crore in Q1FY24, up from INR 2,620 crore in the same quarter last year. The profit before tax stood at INR 258.36 crore during the period, registering a growth of 46%.
A press release from the company noted that the revenue growth was aided by healthy volume growth registered in the automotive aftermarket and from the telecom and UPS segments.
Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries, ARBL, said, “We will continue to build our product range, cater to newer segments, and strengthen our international operations.”
Vikramadithya Gourineni, Executive Director, New Energy Business, ARBL, noted that in the new energy segment, the company has seen a 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,” he added.
Jayadev Galla, Chairman & Managing Director, 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.”
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