Industrial and automotive battery maker Amara Raja Batteries Limited has reported a 9.76 per cent increase in profit before tax (PBT) at Rs 217.11 crore for the quarter ended December, 2019 as compared with Rs 197.80 crore in the corresponding period previous year.
During the quarter under review, the company's revenues grew little over 3 per cent to Rs 1760.28 crore from Rs 1707.16 crore in the year-ago period. Amara Raja management said the replacement demand for its batteries across market segments helped the company achieve a health volume growth despite a slowdown in demand from original equipment manufacturers (OEMs) and telecom sectors.
"The automotive sector is facing challenges of demand uncertainty due to social, regulatory and technological changes. The coming months will provide clarity on the medium and long term growth trajectory of this sector. We are closely tracking the emerging opportunities and will continue to leverage our strengths to tap into these opportunities at the right time," Amara Raja Batteries vice chairman and managing director Jayadev Galla said.