Amara Raja Energy & Mobility Ltd, an energy and mobility solutions provider, has reported its standalone financial results for the first quarter (April-May-June) of FY 2024-25. It posted a net profit (profit after tax) of INR 244.55 crore for Q1 FY25, 23% up over Q1 of FY24. Total income was INR 3,156.74 crore, compared to INR 2,792.47 crore in Q1 FY 24
The earnings per share for Q1 of FY25 is INR 13.36
Amara Raja said 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, “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.”
Amara Raja, one of the largest manufacturers of lead-acid batteries in India, forayed into the new energy business in 2022 with focus on lithium-ion battery cell and pack manufacturing, electric vehicle (EV) charging products, and energy storage solutions. It has developed India’s first 21700 cylindrical cell (NMC 811) and is setting up E Positive Energy Labs, an innovation & research facility in Telangana. It targets 16 GWh lithium cell capacity over the next ten years.
“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.
Jayadev Galla, chairman & managing director of ARE&M, said, “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.”
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