The Amara Raja Batteries announced that their board of directors has approved the investment of Rs.700 crores to set up of a new greenfield automotive battery plant with a capacity of 6.5 million units per year. The company has stated that the project will be implemented in three phases.

Hyderabad based India’s Top Acid battery maker Amara Raja Batteries also reported their quarterly financial report for the fiscal year 2019 with a net profit of 113 crores, a 13% rise in comparison to the Rs. 99.8 crores earned during the same quarter of the fiscal year 2018.

The total revenue of the company for the quarter under review stood at Rs. 1779 crores resulting in a 19% incline as against Rs.1497 crores earned during the corresponding period of last year. The company’s expenses also went up by 5.7% to Rs.1623 crores during the June-end quarter.

The EBITDA for the quarter under review grew by 14% as compared to last year same quarter. Also, the EBITDA margin stood at 12.4% in the June-end quarter of the current fiscal year.

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