Amara Raja Batteries clocks 14% growth in Q1 revenues
Amara Raja Batteries Ltd, India’s automotive battery major reported a revenue of Rs 1935.82 crore for the second quarter of 2020-21 financial year, a net rise of Rs240.51cr or 14.18 per cent as against Rs 1695.31 cr in the previous corresponding quarter
Hyderabad: Amara Raja Batteries Ltd, India's automotive battery major reported a revenue of Rs 1935.82 crore for the second quarter of 2020-21 financial year, a net rise of Rs240.51cr or 14.18 per cent as against Rs 1695.31 cr in the previous corresponding quarter. The profit before tax (PBT) rose to Rs270.96 cr from Rs 231.83 cr during the quarter. The earnings per share (EPS) for Q2 FY 21 was at Rs11.79.
Jayadev Galla, vice-chairman & managing director, Amara Raja Batteries, said: "The resurfacing of demand from all the key segments of our business helped us perform strongly during the quarter. The revamped planning systems and digital enablement of business processes across various functions are helping the organisation to stay agile and respond to the fast changing business environment. While the economic activity has picked up in the country, the uncertainty of Covid impact continues to keep us on the watch. We are tracking the overall economic trends carefully both in domestic context as well as global context and are geared up to deal with both the opportunities and challenges in equal measure."
S Vijayanand, CEO, Amara Raja Batteries, adds: "We have been operating all our manufacturing facilities near 100 per cent capacity utilisation to keep pace with the demand ramp up. There have been some delays in the capacity expansion programs in the last couple of quarters due to Covid-19 restrictions and we are working in a focused manner to complete these projects which should help us to debottleneck supply constraints in the coming months. It is very heartening to see all the employees and business partners raise to the occasion to put in their best effort to meet the challenges posed by the pandemic."