Chennai, Jan 22 (UNI) Industrial and automotive battery major Amara Raja Batteries Limited has recorded revenues of Rs 3,138 million in the third quarter of fiscal 2007-2008, a growth of 110 per cent over the corresponding period last year.
Profit after tax rose by a whopping 206 per cent from the figures for the same period last year, a company release here said today.
During the first nine months of the current fiscal, the company's net revenue was Rs 7,786 million, as against Rs 4,027 million during the corresponding period of the previous year and net profit grew to Rs 682 million from Rs 318 million.
Company Managing Director Jayadev Galla said ''as things stand today, we are well on course to achieving the stated target of Rs 1,000 crore revenue by this March.'' Growth projections in the industrial battery market seem to be an underestimation and were seeing upward revision, quarter to quarter, he said.
''This has fed the growth trajectory in the industrial battery segment. Automotive batteries segment has also grown at a good pace,'' he said, adding that lead prices have softened to around 2,600 US Dollar from the October high of around 4,000 Dollar.
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