Amara Raja Energy & Mobility Ltd. has witnessed a 26% increase in profit in the first quarter of fiscal 2024. The company’s net profit has surged to Rs 249.12 crore for the quarter ending June 2024, up from Rs 198.31 crore in the same period last year, as per an exchange filing.
The revenue from operations of the company (formerly known as Amara Raja Batteries Ltd.) has also seen a significant rise, reaching Rs 3,263.05 crore compared to Rs 2,796.27 crore in the previous year’s quarter. This growth in revenue has been attributed to the strong performance in the automotive after-market, OEMs, and export markets.
Harshavardhana Gourineni, the executive director of Automotive & Industrial Batteries at Amara Raja, expressed optimism about the company’s international operations. He highlighted the increasing demand for their AGM (Absorbed Glass Mat) batteries, emphasizing their focus on expanding this segment in the upcoming months.
Amara Raja Energy & Mobility Ltd. is committed to expanding its product portfolio, targeting new market segments, and enhancing its global presence. The company’s dedication to innovation and growth sets a promising path for future success.
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