Amara Raja Batteries tanks 5% post Q3 results
Shital Jibhe / 23 Jan 2017
Amara Raja Batteries tanked by over 5 per cent on Monday after declaring its Q3 results on Sunday. The company has reported 17.90 per cent drop in its net profit for the quarter ended December 2016. Its net profit stood at Rs 112.32 crore as against Rs 136.82 crore posted for the same quarter of the previous financial year.
Amara Raja Batteries tanked by over 5 per cent on Monday after declaring its Q3 results on Sunday.
The company has reported 17.90 per cent drop in its net profit for the quarter ended December 2016. Its net profit stood at Rs 112.32 crore as against Rs 136.82 crore posted for the same quarter of the previous financial year.
Although the company's total income from operations increased 9.67 per cent to Rs 1,502 crore from Rs 1,369.54 crore YoY, its expenses too increased 14.46 per cent to Rs 1,344.96 crore from Rs 1,175.03 crore YoY.
Amara Raja Batteries, one of the renowned names in auto ancillaries which is majorly engaged in batteries, is based in Tirupati, Andhra Pradesh. The company's current market capitalisation is Rs 14,920.47 crore.
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