The stock fell 8% to Rs 760, extending its 5% decline on Friday on the BSE after the company reported a lower than expected 10.7% growth in standalone net profit at Rs 1.1 billion in March quarter.
The stock surged 8% to Rs 860 on BSE in intra-day trade after the company reported a better than expected 17% growth in net profit at Rs 1.98 billion in Q3FY18.
Hyderabad, 6 October: Amara Raja Batteries Limited, a dominant Indian player in lead-acid space, is looking to make a foray into other battery technologies while keeping the cost factor at the core of its business strategy."Besides the alloy development we are also considering the alternative chemistries. The work on research, capital costs and partnerships is currently underway. We expect to finalise the technologies and the investment plans in a year or two," Amara Raja chairman Ramachandra N Galla told Business Standard. Batteries are classified by chemistry, and the most common are lead, lithium and nickel-based.Using its international partnerships and R&D, the company has launched new type of products like AGM(absorbed glass mat) and gel platform-based batteries within the lead-acid space in the recent past. It has also developed flat plate gel and tubular gel battery variants, which are expected to be commercially launched in the current year.Ramachandra Galla says the new .
Pricing pressure, product mix saw these at a multi-quarter low
While price hikes will partly offset higher lead costs, growth worries may impact revenues
At 11:01 am, the company was trading 3.31% lower at Rs 872.50. It hit an intra-day low of Rs 857.25
The company had posted a net profit of Rs 136.82 crore during the same period a year ago
Full-year profit up 19% at Rs 489 cr; Total income from operations at Rs 4,691 cr, up 11% over previous year