The corporate, which offers power storage options, Lithium-ion cell manufacturing, electrical car chargers, and Li-ion battery pack meeting options, registered a income of ₹3,131 crore within the quarter in opposition to ₹2,770 crore within the comparable quarter final yr.
For the complete yr 2023-24, the corporate reported a web revenue of ₹906 crore on a income of ₹11,260 crore. “We have now seen good traction from our worldwide operations. This was led by the offtake of our indigenously designed AGM batteries. We’re betting huge on rising this house within the coming months,” Harshavardhana Gourineni, Govt Director, Automotive & Industrial Batteries of ARE&M, stated.
“We have now seen wholesome development from our chargers and battery packs enterprise and cast partnerships with GIB and Highstar for cell know-how and commercialisation. The development of the primary section of our cell manufacturing and superior power analysis and innovation centre is continuing phase-wise,” Vikramadithya Gourineni, Govt Director (New Vitality Enterprise) of ARE&M, stated in a inventory alternate submitting.
The corporate has additional infused ₹125.25 crore in the course of the quarter, into Amara Raja Round Options Personal Restricted (ARCSPL), a wholly-owned subsidiary of the corporate, as an funding in fairness shares for its capital necessities. The whole funding in ARCSPL now stands at ₹445.25 crore.
The corporate suffered a lack of ₹438.56 crore in a hearth mishap that occurred on January 30, 2023 at a producing facility at Chittoor (Andhra Pradesh). There was no lack of lives.
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