Amara Raja Q2 net profit up 22% at Rs 122 crore

Amara Raja Batteries Limited has reported a 22.2% jump in net profit at Rs 122.57 crore for the quarter ended September 2015 as compared to Rs 100.30 crore in the corresponding quarter last year. The company's total income from operations increased 9.25% to Rs 1,158.29 crore in the quarter under review from Rs 1,060 crore in the year ago period.

During the quarter, price of major raw materials have been lower but the gains were partly offset by sharp depreciation of rupee against dollar, the company said. Also, the reduced prices were passed onto the customers as per the contractual obligations resulting in marginal reduction in top-line, it added.

The four wheeler batteries volume grew phenomenally backed by improved sales in replacement battery segment in both Amaron and PowerZone brands, according to a company press release. Though industrial battery business registered a moderate volume growth over the corresponding quarter last year, it had improved the overall performance by virtue of its preferred supplier status with all major customers, it said.

"We are delighted to report the highest revenue and profit for a quarter. The capacities in various plants of the company are operating effectively and supporting the growth and expansion in the market share. We are geared up to expand the capacities further and introduce new products depending on the market conditions," the company vice chairman and managing director Jayadev Galla said in a statement.