Indian battery maker Amara Raja's Q2 profit rises on steady automotive demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2024
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Source: Reuters
Amara Raja's Profit Growth: Amara Raja Energy & Mobility reported a 6.3% increase in net profit for Q2, reaching 2.41 billion rupees, driven by demand from automotive manufacturers, although this marks the slowest growth rate in a year due to moderated dispatches from car manufacturers.
Market Trends and Performance: Despite a 9% rise in India's total vehicle production, Amara Raja's revenue growth slowed to 11.6%, with significant contributions from its aftermarket and two-wheeler battery divisions; shares of Amara Raja have increased 68.4% this year, while Exide Industries saw a 40% rise.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
