New Delhi: Amara Raja Batteries Limited has posted a profit of ₹164.41 crore for the third quarter ended December 31, 2019, against ₹130.89 crore logged in the corresponding quarter of last year.
The battery major reported a revenue of ₹1,747.81 crore in Q3 FY20, against ₹1,694.66 crore for the corresponding quarter, registering a growth of 3 per cent.The earnings per share (EPS) for Q3 FY20 was at ₹9.63.
The original equipment (OE) and telecom sectors continue to experience demand slowdown. However, the replacement demand for Amaron, Power Zone and Quanta batteries across market segments helped the company achieve healthy volume growth. Exports to countries in the Indian Ocean Rim geography continue to gain traction.
S Vijayanand, CEO, Amara Raja Batteries, said, “Our focus on operational excellence and cost efficiency is helping us stay competitive under difficult economic conditions. The planned investments in capacity enhancement and technology upgradation are progressing as per schedule.”
Jayadev Galla, Vice Chairman and Managing Director, Amara Raja Batteries, said, “The automotive sector is facing challenges of demand uncertainty due to social, regulatory and technological changes. The coming months will provide clarity on the medium and long-term growth trajectory of this sector. We are closely tracking the emerging opportunities and will continue to Leverage our strengths to tap into these opportunities at the right time.”
