Q1: Amara Raja Energy profit rises 26%

05 Aug 2024 CW Team

Amara Raja Energy & Mobility (ARE&M) reported a rise of about 26% in its consolidated net profit, reaching Rs 2.49 billion for the June quarter of FY25. This is an increase from the Rs 1.98 billion net profit reported for the April-June period of 2023-24, according to an exchange filing by the company on Saturday. The revenue growth was supported by strong year-on-year volumes in the automotive after-market, OEMs (original equipment manufacturers), and export markets, as stated by the company.

Harshavardhana Gourineni, Executive Director of Automotive & Industrial Batteries, noted that the quarter had seen substantial traction from international operations, driven by the uptake of their indigenously designed AGM (Absorbed Glass Mat) batteries. He mentioned that the company is significantly investing in expanding this segment in the coming months.

The company plans to continue expanding its product range, exploring new market segments, and enhancing its global presence. ARE&M operates in energy storage solutions, lithium-ion cell manufacturing, EV chargers, and automotive and industrial lubricants, among other areas.

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