Hyderabad-based
Amara Raja Batteries registered a consolidated net profit of Rs201.27cr for the quarter ended September 2020 (Q2FY21), declining by 7.93% from Rs218.61cr in the corresponding period of the previous year.
At around 2.10 pm, the company's stock was trading at Rs749.75 per piece tumbling by Rs39.35 or 4.99% on Sensex.
The stock has touched the day's low of Rs746.75 per piece.
Consolidated revenue from operations, however, increased by 14.16% to Rs1,935.52cr in the quarter under review, as against Rs1,695.31cr a year ago same period.
Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, "The resurfacing of demand from all the key segments of our business helped us perform strongly during the quarter. The revamped planning systems and digital enablement of business processes across various functions are helping the organisation to stay agile and respond to the fast changing business environment."
Galla added, "While the economic activity has picked up in the country, the uncertainty of COVID impact continues to keep us on the watch. We are tracking the overall economic trends carefully both in domestic context as well as global context and are geared up to deal with both the opportunities and challenges in equal measure."
Amara Raja said the company's performance during the quarter was driven by the demand rebound across all key sectors of the business. The robust operational guidelines to deal with pandemic risk have helped ramp up in manufacturing capacity utilization and distribution operations.