Amara Raja Batteries Q2 PAT soars 64% to Rs 518M ($10.7M)

Nov 14, 2011 I The Economic Times I Mumbai

Amara Raja Batteries today reported 63.92 per cent jump in its profit after tax (PAT) for the second quarter ended September 30 at Rs 518M ($10.7M) on account of robust demand across different categories.

Net sales during the second quarter of the current fiscal also increased by 42.86 per cent to Rs 5.6B ($115.5M) from Rs 3.9B ($80.4M) in the year-ago period, it added.

"The automotive battery business reported satisfactory performance, despite marginal growth in OEM market primarily due to frequent hikes in interest rate and fuel prices," the company said. The industrial battery business of the firm reported substantial improvement in volume as well as revenue, it added.

Commenting on the results, Amara Raja Batteries Managing Director JayadevGalla said: "It is heartening to report a healthy growth as a company, while the prevailing macro-economic conditions caused a slowdown in the automotive segment...but we are confident of a growth story in the long term."

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