Amara Raja Batteries fall 5% on poor Q3 earnings

Amara Raja Batteries fell as much as 5% at intra-day in an otherwise positive market after the company posted a 17.90% fall in net profit at Rs 112.32 crore for the quarter ended December 31, due to higher expenses. The company had posted a net profit of Rs 136.82 crore during the same period a year ago.

 

Its total income from operations, however, rose by 9.67% to Rs 1,502 crore during the quarter from Rs 1,369.54 crore in the year-ago period, Amara Raja Batteries said in a BSE filing.

 

The expenses were up 14.46% at Rs 1,344.96 crore as compared to Rs 1,175.03 crore in the corresponding quarter last fiscal.

 

Amara Raja offers a wide range of products such as batteries, power solutions and electronics, among others.

 

At 11:01 am, the company was trading 3.31% lower at Rs 872.50. It hit an intra-day low of Rs 857.25.