Amara Raja Batteries Q2 PAT soars 64% to Rs 52 cr

Amara Raja Batteries today reported 63.92% jump in its profit after tax (PAT) for the second quarter ended September 30 at Rs 51.8 crore on account of robust demand across different categories.

The company had posted a PAT of Rs 31.6 crore in the corresponding period last year, Amara Raja Batteries said in filing to the Bombay Stock Exchange (BSE).

Net sales during the second quarter of the current fiscal also increased by 42.86% to Rs 558.6 crore from Rs 391 crore in the year-ago period, it added.

"The automotive battery business reported satisfactory performance, despite marginal growth in OEM market primarily due to frequent hikes in interest rate and fuel prices," the company said.

The industrial battery business of the firm reported substantial improvement in volume as well as revenue, it added.

Commenting on the results, Amara Raja Batteries Managing Director Jayadev Galla said: "It is heartening to report a healthy growth as a company, while the prevailing macro-economic conditions caused a slowdown in the automotive segment. But we are confident of a growth story in the long term."

The shares of the company today closed unchanged at Rs 209.25 apiece compared to the previous close on the BSE.