Amara Raja Batteries dips on Q2 earnings worries

Exide Ind on Friday reported a lower-than-expected net profit at Rs 120 crore in July-September 2012, against analyst expectations of Rs 146 crore.

Amara Raja Batteries has dipped over 5% at Rs 225 on concerns that the auto parts and equipment makers may disappoint the market by reporting lower net profit like its peer Exide Industries reported for the quarter ended September 2012. The company will announce its Q2 results on November 7, 2012.

Exide Industries on Friday reported a lower-than-expected net profit at Rs 120 crore in July-September 2012, against analyst expectations of Rs 146 crore.

The stock of Amara Raja Batteries has opened at Rs 238 and hit a low of Rs 223, while Exide Industries is trading lower by 4% at Rs 141 extending its Friday’s over 8% fall on the BSE.