In Q1FY23, the company registered a consolidated net profit of ₹132.01 crore compared to ₹124.10 crore in Q1FY22. Revenue from operations stood at ₹2,620.53 crore in Q1FY23 against ₹1,886.17 crore in the same quarter last year.
The company witnessed robust demand in the automotive sector from the aftermarket as well as 4-Wheeler and 2-Wheeler OEM segments. Industrial battery volumes have shown healthy growth, especially in the UPS and telecom segments.
Amara Raja Batteries is engaged in the Indian lead acid battery market with a strong presence across automotive (OEM, aftermarket) and industrial battery space (UPS, telecom, solar, etc).
Research analyst Nilesh Patil at Chola Wealth said, "Amara Raja Batteries has over the years built a strong franchise for itself in lead acid batteries market with extensive growth in after-market business.
In the recent past, the industry-specific headwinds and issues at the company level have weighed on the financial performance. With a revival in automotive demand the company is expected to report improved performance hereon."
Source - www.mint.com