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Amara Raja Batteries Q2 profit up 6% to Rs 100 crore

PTI 11 Nov 2014, 15:55:55 PM IST

New Delhi: Amara Raja Batteries today reported 6.04 per cent increase in its net profit to Rs 100.30 crore for the second quarter ended September 30, 2014.

It had posted net profit of Rs 94.58 crore during July- September quarter of 2013-14 fiscal, Amara Raja said in a statement.

Net income of the company increased 32.02 per cent during the quarter under review to Rs 1,065.59 crore as against Rs 807.12 of the same period in the previous fiscal.

"We are delighted to report the continuing growth momentum of the company that is reflected by the highest revenue and profit for the quarter," said Amara Raja Batteries Vice Chairman & Managing Director Jayadev Galla.

On the outlook, he said, "The green field expansion project of four-wheeler automotive batteries facility, the project for addition of two lines for expanding two-wheeler batteries capacity are progressing well and the proposed project for tubular battery manufacturing facility which was approved at the board meeting held today will support to accelerate the growth momentum and secure us additional market share in the near future."

For the first half of 2014-15, Amara Raja Batteries' net profit also increased 7.21 per cent to Rs 206.26 crore as compared to Rs 192.38 crore in the same period last year.

Amara Raja Batteries net income during the six-month period increased by 23.14 per cent to Rs 2,094.62 crore as against Rs 1,700.88 crore in the same period of the previous fiscal.

Shares of the company were trading at Rs 706 per share post afternoon trade on BSE, up 1.55 per cent from previous close.