Amara Raja Batteries hits 52-week high on Q1 results

NEW DELHI: Amara Raja Batteries Ltd surged over 11 per cent in trade on Thursday to hit its 52-week high of Rs 404 after the company reported a 95 per cent year-on-year (YoY) jump in net profit at Rs 76 crore for the quarter ended June 30, 2012 on the back of higher sales.

For the quarter ended on June 2012, net sales of the company stood at Rs 690.78 crore, up 31.83 per cent, as against Rs 523.96 crore in the same period last year.

Total operational income grew 32 per cent at Rs 694 crore YoY while total expenses surged 25.6 per cent YoY to Rs 587.2 crore in the April-June quarter of financial year 2012-13.

The stock has run up over 20 per cent so far in this week starting Monday, 13th August, ahead of its results.

At 01:32 pm, Amara Raja was trading 5.8 per cent higher at Rs 385.20. It has hit a low of Rs 364.20 and a high of Rs 404 today.

The industrial battery business has reported double digit volume growth in its major business segments -- telecom and UPS -- driven by improved demand.

The company in a filing with the BSE said it is confident of continuing its growth in the industrial battery business, enabled by the good position built over the last few years in the UPS segment and encouraging signs in other segments, despite challenges posed by the economy and competition.