Amara Raja shares rise 3% on strong Q1 numbers

Shares of $ARE&M a Energy & Mobility climbed 3.15% to Rs 1,000.80 on Wednesday after the company posted a solid set of June-quarter results. Consolidated net profit rose 15.8% year-on-year to Rs 191 crore, while revenue jumped 24% to Rs 4,214.5 crore. The lead-acid batteries segment remained the main growth driver, with revenue climbing to Rs 4,005 crore from Rs 3,280 crore a year earlier. New-energy business revenue also nearly doubled to Rs 209 crore. EBITDA grew 11.7% to Rs 406 crore, though margin moderated to 9.6%. Brokerages Nomura and JPMorgan raised target prices to Rs 1,048 and Rs 1,070 respectively while retaining Neutral ratings, citing near-term cost pressures but noting improving prospects in energy storage.