Amara Raja Batteries registers 49 per cent hike in revenue

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Hyderabad, July 26 (UNI) Amara Raja Batteries, India's leading Industrial and Automotive Battery company today announced that it has recorded a revenue of Rs 3,252.17 million for the first quarter of the financial year 2008-09, registering an increase in net revenue of 49 per cent.

According to a release here, Profit After Tax registered a decline from Rs 179.06 million, during the first quarter of previous fiscal, to Rs 149.17 million in first quarter of this fiscal.

Profit Before Tax was recorded at Rs 238.32 million as against Rs 274.64 million the corresponding period last year.

Company Managing Director Jayadev Galla said ''growing demand in telecom and UPS segment continues to increase our business. The growth in the automotive battery segment has also contributed to the top line. Our plans to increase capacity and distribution network are going as per schedule and would contribute to our top line growth.'' The company had decided to invest Rs 520 million to enhance production capacitiy, he added.

Company Chairman Ramachandra N Galla said ''lead prices have moderated to around USD 2,000. While the expectation is that the price would hover in the same range for the next quarter, this needs a close watch. The current double digit inflation rate and the resultant pressure on the economy is another key area,'' he said.

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