After Q2 results, Amara Raja Batteries Shares Surge 11%

amara raja

Amara Raja Batteries, a subsidiary of the Amara Raja Group, headquartered in Tirupati, Andhra Pradesh—revealed about its consolidated revenue amounted to ₹2,700.47 crores in September for the second quarter as compared to ₹2,264.15 revenue figures in the same period of the last year.

The company reported its YoY rise of 39.42 percent in its consolidated profit after tax (PAT) at ₹201.22 crores for the second quarter, credited to the rise in sales.

Shares of Amara Raja Batteries surged 11 percent in Friday’s trade after the automotive battery manufacturer reported better-than-expected September quarter results. The Andhra Pradesh-based company reported a 39.42 percent YoY jump in consolidated profit after tax at ₹201.22 crores for the September quarter, thanks to higher sales.

Motilal Oswal Securities mentioned, “Amara Raja’s Q2FY23 earnings were influenced by softening of raw material costs coupled with volume growth across segments. The recent moderation in lead prices will aid margin recovery. Volumes should see an upward trajectory in both automotive and industrial segments.”

The stocks surged to an impressive 10.6 percent reaching a high of ₹ 574.95 on the Bombay Stock Exchange.