Amara Raja Batteries on Saturday reported 99 per cent jump in consolidated net profit at Rs 124.1 crore for the first quarter ended June 30, 2021.

The company, which had posted a net profit of Rs 62.49 crore in the same quarter last fiscal year, said its Founder Chairman Ramachandra N Galla is retiring on Saturday after 36 years of service.

Revenue from operations during the quarter stood at Rs 1,886.17 crore as against Rs 1,151.22 crore in the year-ago period, Amara Raja Batteries said in a regulatory filing.

Even as the quarter was impacted by lockdowns due to the pandemic, the aftermarket demand across product segments in both automotive and industrial segments remained strong, the company said.

The automotive business revenue grew on the back of a very strong growth in exports and OEMs compared to last year, it added.

In the industrial business, both telecom and UPS applications registered strong year-on-year growth.

Commenting on the performance, company's Vice Chairman & Managing Director and CEO Jayadev Galla said,"While the uncertainties due to second wave of COVID and the resultant lockdowns are creating unpredictability in the product offtake, we are focused on ensuring the product availability across all market segments by calibrating manufacturing operations and supply chain dynamically." Even as the company prepares for the future opportunities in both energy storage and e-mobility applications, it remains focused on maximising the value of the lead acid business by selective investments in expanding product portfolio and the geographies it serves, he said.

On his retirement Ramachandra N Galla said,"As I prepare to demit charge and transfer all organisational responsibilities to our Vice Chairman & MD-CEO Jayadev Galla, I want to reassure all shareholders and other stakeholders that the company is in absolutely safe and in efficient hands." Moving forward, he said,"I would continue to be available in case any guidance or counsel is required from my end."