Amara Raja Energy & Mobility Registers 13 Percent YoY Growth in Revenue in Q1 FY25
Amara Raja Energy & Mobility Limited (ARE&M) has reported profit before tax of INR 328.66 crore for Q1 of FY25 registering a growth rate of 23 percent over Q1 of FY24.
August 05, 2024. By Aishwarya
For the quarter ended June 30, 2024, the company reported a revenue from operations of INR 3,131.19 crores, which represents an increase from the INR 2,770.70 crores recorded in the corresponding quarter of the previous year, June 30, 2023.
The company's profit before tax also saw a significant improvement, rising to INR 328.66 crores in the quarter ended June 30, 2024, compared to INR 266.24 crores in the same period last year.
The revenue growth was aided by year-on-year healthy volumes registered in the automotive after-market, OEMs, and export markets.
Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries said, “Our revenue and profit numbers are a testament to our sustained growth story. In the last quarter, we have seen good traction from our international operations. This was spearheaded by the offtake of our indigenously designed AGM batteries. We are betting big on growing this space in the coming months. We will continue to build our product range, cater to newer segments, and strengthen our global presence.”
“We have seen healthy growth from our chargers and battery packs business and have successfully forged partnerships with GIB and Highstar for our cell technology and commercialisation. We have also begun to successfully forge customer alliances, which gives us confidence on the steps we have taken so far. The construction of the first phase of our cell manufacturing and advanced energy research and innovation centre is proceeding in a phase-wise manner," said Executive Director, New Energy Business, Vikramadithya Gourineni.
Speaking about the results Jayadev Galla, Chairman and Managing Director of ARE&M said, “We have witnessed significant growth in revenue and profits quarter on quarter, which is a direct testament of our customer’s trust in our product’s quality and reliability. The rapid movement in the Li-ion initiatives and the ongoing new additions to our advanced lead acid battery portfolio promise a very strong future.”
please contact: contact@energetica-india.net.
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