Amara Raja Energy and Mobility Q1 Net Profit Falls 21% YoY on Higher Expenses

Amara Raja Energy and Mobility posted a June quarter net profit of ₹1.94 billion, down 21% on year as expenses rose faster than revenue growth. Sequentially, profit rose 16%.

Revenue from operations grew 7% on year and 13% on quarter to ₹33.50 billion.

Total expenses increased 10% to ₹31.03 billion, led by a 35% jump in purchase of stock-in-trade to ₹6.68 billion. Raw material costs were ₹16.94 billion, up 6% on year, while other expenses climbed 12% to ₹4.03 billion.

Depreciation and amortisation rose 9% to ₹1.29 billion, and finance costs increased 15% to ₹103.5 million. Employee benefits expenses were ₹1.98 billion, up over 6% on year.