Amara Raja Boosts Profit with Global Expansion and New Product Launches

Amara Raja Energy and Mobility Ltd reported a 62% increase in profit after tax, reaching Rs 228.03 crore for the March quarter. The company, formerly known as Amara Raja Batteries, also saw a 15% rise in revenue to Rs 2,796.73 crore. New product launches and a robust global presence contributed to the growth.

Amara Raja Energy and Mobility Ltd (ARE&M) on Monday reported a 62 per cent growth in profit after tax (PAT) to Rs 228.03 crore in the March quarter. The company -- earlier known as Amara Raja Batteries -- posted a profit of Rs 140.98 crore in the year-ago period, according to an exchange filing. Revenue from operations during the quarter under review increased 15 per cent to Rs 2,796.73 crore from Rs 2,433.01 crore a year earlier, the company said in a statement. For 2023-24, PAT stood at Rs 905.86 crore while revenue from operations was Rs 11,260.30 crore, the company said. Amara Raja Energy & Mobility Ltd recorded a revenue growth in FY24 with both lead acid battery business and new energy business growing substantially, the company said.

''Our business across segments has performed considerably well. Today, we have a wide array of products and solutions that cater to every type of automotive and industrial application,'' Chairman & Managing Director Jayadev Galla said. ''We observed robust and sustained growth in both industrial and automotive applications, that resulted in overall revenue growth of 10 per cent. This was accomplished in part by launching new product ranges and brands in the automotive aftermarket and data centre segments,'' said Harshavardhana Gourineni, Executive Director for automotive and industrial batteries. In the last FY, the company strengthened its global presence by entering the North American and European markets, placing its products in over 50 countries, he added.