India’s major battery-producing company, Amara Raja said it was focusing on the value- maximisation of its lead-acid battery business by expanding its product portfolio and geographies.
The second wave of COVID-19 and the subsequent restrictions have led to unpredictability in product off-take, said the company.
The battery producer is focused on catering to demand across all consumer segments while adjusting manufacturing operations and supply chains.
In Q1 (April-June), demand across segments in both the industrial and automotive segment remained strong despite the impact of COVID-19.
Strong exports and demand from OEMs boosted revenues from the automotive segment from the prior-year period. Industrial businesses, both telecom and UPS applications, also registered a healthy growth from a year ago.
The company’s profit before tax doubled from the year-ago quarter to Rs1.67bn ($22.48mn) in Q1 FY22 and revenues increased by 63pc to Rs18.85bn from Q1 FY21.