Shares of Amara Raja Energy & Mobility (ARE&M), previously known as Amara Raja Batteries, witnessed a nearly 1% surge following the company’s financial results announcement for Q2 FY2024.
The company reported a revenue of Rs 2,810 crore, marking a 4% year-on-year increase from Rs 2,699 crore in the corresponding period last year.
Additionally, the net profit showed a growth of 6% YoY, reaching Rs 293 crore compared to Rs 276 crore in the previous year.
As of 1:15 pm the shares were trading 0.68% higher at ₹617.40
Harshavardhana Gourineni, Executive Director of Automotive & Industrial Batteries at ARE&M, expressed satisfaction with the consistent performance of the company’s automotive and industrial businesses.
He highlighted the company’s strategic initiatives, including expanding the product range, entering new geographies, establishing customer partnerships, and emphasizing operational excellence, reflecting ARE&M’s commitment to sustainable growth and operational efficiency.
