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Amara Raja Batteries reports 14% increase in revenues over previous quarter in Q1 FY 24

Amara Raja Batteries

Amara Raja Batteries Limited today declared a profit before tax of Rs 258.35 crores for the first quarter of fiscal year 24, representing a 46 percent increase over the first quarter of fiscal year 23. The earnings per share (EPS) for the first quarter of fiscal year 24 was Rs 11.27. 

Revenue increase was boosted by strong volume growth in the automotive aftermarket, as well as the telecom and UPS categories. 

“Our revenue and profit numbers are a testament to our sustained growth story,” says Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries. We will expand our product line, target newer markets, and strengthen our international operations.” 

Amara Raja Batteries

“In the New Energy segment, we’ve seen healthy growth from chargers, as well as increased interest in cells and battery packs.” “We are moving quickly with our Gigafactory and advanced energy research and innovation center work,” says Vikramadithya Gourineni, Executive Director, New Energy Business. 

“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,” stated Jayadev Galla, Chairman & Managing Director of ARBL. With our rapid progress in Li-ion activities, we are well positioned for a bright future.”