Amara Raja Energy & Mobility Ltd on Monday (November 4) reported a 6.3% year-on-year (YoY) increase in net profit at ₹240.7 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Amara Raja Energy & Mobility posted a net profit of ₹226.4 crore.
The company’s revenue from operations increased 11.6% to ₹3,135.8 crore against ₹2,811.1 crore in year-ago period.
At the operating level, EBITDA grew 7.5% to ₹440.7 crore in the second quarter of this fiscal over ₹409.8 crore in Q2 of FY24.
The EBITDA margin stood at 14.1% in the reporting quarter compared to 14.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
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The board of directors declared an interim dividend of ₹5.30 per equity share (representing 530%) of ₹1 each fully paid up for the financial year 2024-25, which will be paid on or before December 3, 2024. The board had fixed Thursday, November 14, 2024, as the record date for the purpose of payment of the interim dividend for the FY 2024-25.
Amara Raja has announced an increase in its investment commitment to its wholly-owned subsidiary, Amara Raja Advanced Cell Technologies Private Ltd (ARACT). The board of directors has approved raising the investment limit in ARACT from ₹1,000 crore to ₹2,000 crore.
This capital infusion, to be delivered in one or more tranches, will be structured through loans, equity, or other financing modes. The expanded investment aims to accelerate ARACT’s plans to establish gigafactories and advanced manufacturing plants.
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The results came after the close of the market hours. Shares of Amara Raja Energy & Mobility Ltd ended at ₹1,378, down by ₹26.25, or 1.87%, on the BSE.
(Edited by : Shoma Bhattacharjee)