Amara Raja Batteries books 99.61 pc hike in PBT to Rs 164 cr; Jayadev is new Chairman

Hyderabad, Aug 14 (UNI) Amara Raja Batteries Limited (ARBL), India’s leading Industrial and Automotive Battery major, the flagship of the Amaraja Raja Group, on Saturday reported 99.16 per cent increase in its Profit before tax (PBT) to Rs.167.04 crores for the first quarter ended June 30,2021 against Rs 83.68 crore in the same quarter in the previous year.
The Tirupati-headquartered ARBLs’ Revenue for Q1 of FY 22 stood at Rs 1,885.86 crores as compared to Rs.1,151.04 crores during Q1 of FY 21, the company said in a release here.
The Earnings per Share (EPS) for Q1 of FY 22 was at Rs 7.26.
Even as the current quarter was impacted by lockdowns due to pandemic, the aftermarket demand across product segments in both automotive and industrial segments remained strong.
The Automotive Business revenue grew on the back of a very strong growth in Exports and OEMs compared to last year.
In the industrial business both Telecom and UPS applications have registered strong YoY growth
Mr. Jayadev Galla, Vice Chairman and Managing Director and CEO, Amara Raja Batteries Limited, said“ While the uncertainties due to second wave of Covid and the resultant lockdowns are creating unpredictability in the product off take, we are focused on ensuring the product availability across all market segments by calibrating manufacturing operations and supply chain dynamically.”
Mr Jayadev explained “Even as we prepare ourselves for the future opportunities in both the energy storage and e-mobility applications, we remain focused on maximising the value of the lead acid business by selective investments in expanding product portfolio and the geographies we serve.
Meanwhile, Today holds special significance for Amara Raja Batteries Ltd, as the Founder-Chairman, Dr. Ramachandra N Galla retired after 36 years of peerless service.
While handing over the baton, Dr. Ramachandra N Galla, Founder-Chairman, said: “As I prepare to demit charge and transfer all organizational responsibilities to our Vice Chairman and MD-CEO Jayadev Galla, I want to reassure all shareholders and other stakeholders that the Company is in absolutely safe and in efficient hands.
I also wish to place on record my gratitude to all stakeholders who have stood by the Company through thick and thin, particularly during the challenging moments of the ongoing pandemic, Ramachandra added.