Amara Raja Batteries fell as much as 5% at intra- day in an otherwise positive market after the company posted a 17.90% fall in net profit at Rs 112.32 crore for the quarter ended December 31, due to higher expenses. The company had posted a net profit of Rs 136.82 crore during the same period a year ago.
Its total income from operations rose by 9.67% to Rs 1,502 crore during the quarter from Rs 1,369.54 crore in the year-ago period. The expenses were up 14.46% at Rs 1,344.96 crore as compared to Rs 1,175.03 crore in the corresponding quarter last fiscal.
Advice by Expert
Intraday Trader can Sold Amara Raja Batteries at around 880 to 875 targets 867, 861.