Amara Raja Q1 net down 24% to Rs 100 cr over hike in material costs

There was a sharp 25% rise in the cost of materials during the quarter under review

Amara Raja Batteries Limited has reported a 23.58 per cent decline in net profit at Rs 99.85 crore for the quarter ended June 2017 due to a steep rise in the cost of materials, besides other expenditure. The company's net profit stood at Rs 130.53 crore in the corresponding quarter last year.

The automotive battery maker registered a 15 per cent growth in total income at Rs 1,686.96 crore for the quarter under review, as compared to Rs Rs 1,465.28 crore in the year-ago period.

However, the total expenditure grew 20.37 per cent to reach Rs 1,534.24 crore in the quarter under