Home Economy Amara Raja Batteries registers good growth and profits

Amara Raja Batteries registers good growth and profits


Chennai : Chennai-based industrial and automotive battery manufacturer Amara Raja Batteries Ltd has announced robust growth and handsome profits in the second quarter of the current financial year.

The company has closed the second quarter of fiscal 2006-07 with a total income of Rs.2.597 billion. The company has posted net sales of Rs.2.562 billion and profit after tax of Rs.206 million.

Compared to the corresponding period of the previous year, revenues grew by 94 percent and net profit by 62 percent.

According to Jayadev Galla, managing director, the growth is owing to good demand from telecom and uninterrupted power systems (UPS) segments.

He said the industrial and automotive segment contributed equally towards the turnover.

The company’s expansion plans are progressing as per schedule. Amara Raja has plans to get into the two-wheeler battery segment shortly.

“The financial position of the company continues to be comfortable. The stock split from Rs.10 to Rs.2 announced during June has taken effect from September 26 this year,” observed K. Suresh, financial controller of the company.

The firm has posted a turnover of Rs.4.70 billion and net profit of Rs.385.2 million in the first half of the current fiscal.