ARE&M

** Amara Raja Energy & Mobility AMAR.NS falls 3.4% to 997.7 rupees

** Co on Sunday reported drop in Q3 EBITDA margin to 12.4% from year-ago 15%

** Post earnings call, Morgan Stanley says battery maker's management seeing continued margin headwinds in Q4 from currency depreciation, fuel purchase agreements

** J.P. Morgan lowers valuation of co's cell business from 278 rupees/share to 199 rupees/share on delay in co's gigafactory commissioning

** Motilal Oswal cautious about potential returns from co's lithium-ion initiative

** At least six brokerages, including J.P. Morgan and Motilal Oswal, cut PT after earnings call - LSEG

** Stock rated "hold" on avg

** AMAR down ~17% YTD

(Reporting by Manvi Pant in Bengaluru)

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** Shares of Indian battery makers rise as Finance Minister Nirmala Sitharaman says battery-related raw materials will be fully exempted from custom duties

** Shares of Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS up 3.4% and 3.6%, respectively

** Custome duty exemption proposed for cobalt powder and waste, scrap of lithium-ion battery, lead, zinc and 12 more critical minerals

** 35 additional capital goods for EV battery manufacturing will be added to list of exempted capital goods

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Amara Raja Energy & Mobility Ltd AMAR.NS rise as much as 4.5% to 1,274.95 rupees

** Battery maker says Hyundai Motor India Ltd HYUN.NS will equip its domestic product line-up with co's absorbent glass mat (AGM) battery technology

** Adds, HYUN aims to equip its models with AGM batteries in Q4 of FY 2024-2025

** Stock on track to snap six days of losses

** More than 544,000 shares traded as of 9:41 a.m. IST, vs their 30-day moving avg of 441,454 shares

** Mean rating of 14 analysts rating the stock is 'hold'; their median PT is 1,531.50 rupees - LSEG data

** AMAR last up 1.4%, adding to YTD gains of 51.7%

(Reporting by Meenakshi Maidas in Bengaluru)

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Dec 19 (Reuters) - Hyundai Motor Co 005380.KS:

• HYUNDAI MOTOR INDIA LTD - TO OFFER MADE-IN-INDIA AGM BATTERY

• HYUNDAI MOTOR INDIA LTD - TO EQUIP PRODUCTS WITH AMARON AGM BATTERIES

Source text: ID:nBSEbfz8c3

Further company coverage: 005380.KS

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** Shares of Amara Raja Energy & Mobility Ltd AMAR.NS drop 3.9% to 1,320.50 rupees

** Battery maker's Q2 profit grew 6.6% YoY, but was lower than analysts' expectation of a 15% increase, as per data compiled by LSEG

** Motilal Oswal says earnings miss driven by higher-than-expected other expenses, which offset unchanged raw material costs

** Analysts tracking AMAR rate it "hold" on average, same as rival Exide EXID.NS - LSEG data

** AMAR trims YTD gains to 63% but outperforms EXID's ~39% rise this year

(Reporting by Nandan Mandayam in Bengaluru)

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Nov 4 (Reuters) - Indian battery maker Exide Industries EXID.NS reported a smaller-than-expected second-quarter profit on Monday, as muted demand from carmakers offset steady replacement demand, sending its shares to a five-month low.

Standalone profit after tax for the July-September quarter rose 3.8% to 2.98 billion rupees ($35.43 million), falling short of analysts' estimate of 3.09 billion rupees, according to data compiled by LSEG.

Exide's shares dropped as much as 4.6% to 437.80 rupees after the results were announced, hitting their lowest since June 4.

Exide is one of India's biggest battery makers and gets nearly 70% of its sales from automotive clients.

But sales of cars to dealers fell for the first time in more than two years in the September quarter, as manufacturers moderated dispatches to help reduce high levels of unsold cars.

"Excess channel inventories... dampened demand" from automotive clients, the company said in a statement.

That led to a revenue miss, with Exide's quarterly revenue of 42.67 billion rupees, falling short of analysts' estimate of 44.39 billion rupees.

However, replacement demand - where customers replace older vehicle parts with newer ones - was "robust", the company said.

Rival Amara Raja AMAR.NS will report its second-quarter earnings later in the day.

($1 = 84.1050 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Rashmi Aich)

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** Shares of Indian motorcycle maker Bajaj Auto BAJA.NS fall 10% to 10,401 rupees; set for their worst day since March 2020, if losses hold

** Fall after BAJA's weak festive sales growth outlook at just 3%-5% against industry expectations of at least 8%

** BAJA top pct loser on Nifty auto index .NIFTYAUTO and Nifty 50 index .NSEI, which are down 2.8% and 0.5%, respectively

** Forecast drags rivals Hero MotoCorp HROM.NS and TVS Motor TVSM.NS down 3.7% and 4.7%, respectively

** Nifty auto index set for worst day since early Aug

** Tyre-makers CEAT CEAT.NS, MRF MRF.NS and Apollo Tyres APLO.NS fall between 0.4% and 2%.

** Battery makers Exide Industries EXID.NS and Amara Raja Energy & Mobility AMAR.NS fall ~2% each

** Auto-focussed lender Shriram Finance SHMF.NS falls 1.6%

(Reporting by Dimpal Gulwani in Bengaluru)

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July 16 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• APPELLATE TRIBUNAL ALLOWED APPEAL OF CO, SETS ASIDE TAX ORDER

Source text for Eikon: ID:nBSE2TnpsP

Further company coverage: AMAR.NS

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BENGALURU, June 25 (Reuters) - Indian shares were marginally higher at open on Tuesday, led by financial stocks, while the small-cap index jumped due to a 15% surge in Amara Raja Energy.

The NSE Nifty 50 index .NSEI was up 0.25% at 23,600 as of 09:23 a.m. IST, and the S&P BSE Sensex .BSESN increased 0.3% to 77,554.

The domestically focussed small-cap index .NIFSMCP100 jumped 1%, led by gains in Amara Raja Energy and Mobility AMAR.NS.

Amara Raja's shares advanced 15% after the battery maker signed a licensing agreement with a unit of China-based Gotion High Tech 002074.SZ to produce lithium-ion batteries in India.

Financial stocks .NIFTYFIN gained 0.4%, while metal stocks .NIFTYMET rose 0.5% and was the top sectoral gainer.

(Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

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BENGALURU, June 24 (Reuters) - Indian battery maker Amara Raja Energy and Mobility AMAR.NS said on Monday it signed a licensing agreement with Gotion-InoBat-Batteries (GIB), a unit of China-based Gotion High Tech Co 002074.SZ, to produce lithium-ion batteries in India.

GIB EnergyX Slovakia, a joint venture between Gotion and Slovakia-based InoBat, will license Gotion's lithium iron phosphate technology for lithium-ion cells to a unit of Amara Raja, the Indian battery maker added.

Under the licensing agreement, the Indian company will get access to cell technology IP, support for establishing Gigafactory facilities, and be integrated into Gotion's global supply chain network.

Gotion, whose largest shareholder is the German automaker Volkswagen VOWG_p.DE , specializes in lithium-ion rechargeable batteries for new energy vehicles.

Indian automakers mostly import EV batteries from China and South Korea and, along with domestic battery suppliers, have been investing in developing lithium-ion battery production capabilities within the country.

Amara Raja’s rival Exide Energy Solutions EXID.NS partnered with SVOLT in 2022 to build its own lithium-ion battery plant, which is expected to begin operations later this year.

In April, the South Korean auto duo, Hyundai Motor Co 005380.KS and Kia Corp 000270.KS signed a memorandum of understanding with Exide Energy Solutions to supply batteries for their electric vehicles, to boost competitiveness in the Indian auto market.

Earlier this year, Reliance Industries RELI.NS, JSW Neo Energy and Amara Raja Advanced Cell Technologies were among seven companies that submitted bids to set up battery manufacturing gigafactories in India.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Tasim Zahid)

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** Shares of battery maker Amara Raja Energy & Mobility AMAR.NS rises 2.3% to 1,433 rupees

** Stock rose as much as 4.6% at open

** AMAR on Thursday said it invested a further 20 mln euros, which includes a subscription for an additional 4.5% equity stake, in European battery tech company InoBat AS

** Adds, after this investment, AMAR's total holding will be around 9.32% of its equity stake in InoBat AS

** Avg rating of 14 analysts equivalent of "hold", median PT is 1,200 rupees - LSEG data

** Stock up ~75% YTD

** Stock up 88.2% so far this quarter vs fall of 6.8% in March quarter

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of Amara Raja Energy & Mobility AMAR.NS rise 10.7% to a fresh record high of 1,413.9 rupees

** Stock gained 29% in last three sessions, hitting a record high on Thursday

** Jayadev Galla, MD of Amara Raja, was a former MP from the local Telugu Desam Party (TDP), whose victory in general elections made it a key player in forming the national government; Galla did not contest in this election

** Stock up 21% so far this week, eyes best weekly gain since Aug. 17, 2012

** More than 8.1 mln shares change hands, 4.2x 30-day avg

** Analysts covering stock have "hold" rating on avg; AMAR currently trading at ~20% premium to median PT of 1,200 rupees - LSEG data

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Amara Raja Energy & Mobility AMAR.NS fall 2.7% to 1,213.8 rupees

** Battery maker's net profit rises ~62% to 2.28 bln rupees ($27.4 mln) in Q4, but misses analysts' avg estimate of 2.33 bln rupees, as per LSEG data

** Co hurt by 15% surge in total expenses

** Q4 rev from ops up 15% Y/Y but misses estimates too

** Thirteen analysts covering the stock on avg have a "hold" rating; median PT is 967 rupees - LSEG data

** Stock down 6.8% in March quarter

($1 = 83.3105 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

BENGALURU, May 28 (Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS posted a rise in quarterly profit on Tuesday, helped by strong demand for its batteries from the automobile companies.

The company's standalone net profit rose nearly 62% to 2.28 billion rupees ($27.4 million) in the three months to March 31, still shy of analysts' average estimate of 2.33 billion rupees, according to LSEG data.

The automobile industry's requirement for batteries rose in the quarter as vehicle production increased more than 21% year-on-year, according to data from industry body Society of Indian Automobile Manufacturers (SIAM).

Amara Raja has top automakers, including Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS, and Hero MotoCorp HROM.NS, as its clients.

Revenue grew nearly 15% to 27.97 billion rupees, boosted by a 19% rise in the company's lead-acid batteries and allied products segment, which accounts for nearly all its revenue.

The segment also includes its industrial business, which benefitted from the expansion of India's 5G network, as Amara Raja also supplies batteries to telecom equipment manufacturers.

The company's expenses rose nearly 14%, led by increased inventory purchases. Raw material costs, including lead, a key input for battery makers, rose 2%.

Rival battery maker Exide Industries beat its fourth-quarter profit estimates last month.

($1 = 83.1768 Indian rupees)

(Reporting by Varun Hebbalalu in Bengaluru; Editing by Ravi Prakash Kumar)

(([email protected];))

** Shares of Exide Industries EXID.NS up as much as 5.7% to 481.65 rupees; last up 4.2%

** The battery maker reported a 36.6% Y/Y rise in its Q4 PAT to 2.84 bln rupees ($34 mln), above analysts' average estimate of 2.72 billion rupees

** Revenue from operations rose 13.2%

** Average rating of 18 analysts covering the stock is "hold"; median PT is 350 rupees - LSEG data

** EXID up 48.4% YTD, outperforming its peers Eveready Industries India ERDY.NS and Amara Raja Energy & Mobility AMAR.NS which are up 0.52% and 37%, respectively

($1 = 83.4852 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

** Shares of battery maker Eveready Industries India ERDY.NS up 2.5% at 366.05 rupees

** ERDY posts March-qtr consolidated profit of 80.5 mln rupees ($965,025.32) vs loss of 143.9 mln rupees year ago

** Stock trading above its 50-,100-, 200-day moving avgs

** Analysts, on avg, rate ERDY "strong buy"; rivals Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS have "hold" rating - LSEG

** As of YTD, ERDY up 3.7%, AMAR 35% higher, EXID has risen 45%

($1 = 83.4175 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

NEW DELHI, April 23 (Reuters) - Reliance Industries RELI.NS, JSW Neo Energy and Amara Raja Advanced Cell Technologies are among seven companies who have submitted bids to set up battery manufacturing gigafactory in India, the government said on Tuesday.

The companies have submitted bids to set up units to manufacture advanced chemistry cells with a total capacity of 10GWh under the government's production-linked incentive scheme.

India offers incentives to private firms with an aim of boosting local production. The scheme for battery manufacturing has a maximum outlay of 36.20 billion rupees ($434.41 million), the government said.

Battery energy projects are critical to India's plan to expand its renewable energy capacity to 500 gigawatts (GW) by 2030, from 178 GW at present.

India's oil-to-telecoms conglomerate Reliance, owned by the country's richest man, Mukesh Ambani, and power company JSW Energy's JSW Neo Energy were others who put their name in the hat.

Shares of Amara Raja Energy and Mobility AMAR.NS, whose unit Amara Raja Advanced Cell is one of the bidders, soared 15% to an all-time high after the announcement.

($1 = 83.3310 Indian rupees)

(Reporting by Tanvi Mehta, additional reporting by Nandan Mandayam in Bengaluru; editing by David Evans)

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** Shares of Amara Raja Energy & Mobility AMAR.NS rise 3% to 1,034.7 rupees, set for 4th consecutive session of gains

** Unit Amara Raja Infra bags 500 MW solar project from Greenko, Business Standard reports, citing news agency PTI

** Amara Raja Infra did not immediately respond to Reuters request for comment

** Over 3.1 mln shares change hands, 1.8x its 30-day avg

** 13 analysts covering AMAR have a "hold" rating; median PT is 885 rupees - LSEG data

** Stock has surged ~36% so far in April

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Amara Raja Energy & Mobility AMAR.NS rise as much as 10.4% to 963.45 rupees, their highest since Feb 2021

** Exide Industries EXID.NS rise as much as 9.5% to a record high of 448 rupees

** Reuters could not immediately ascertain a reason for stock move

** Exide has surged 40% in six sessions since it signed a deal to supply batteries to Hyundai 005380.KS and Kia 000270.KS for their EVs

** Nomura raised its PT on Exide to 485 rupees from 233 rupees

** Nomura expects 4W EV penetration in India to rise from 2% in FY24 to 20% by FY30F and demand for automotive battery cells to increase nearly 8x over that period

** Exide up ~47% YTD, while AMAR up ~18% vs ~17% gain in Nifty auto index .NIFTYAUTO

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of batteries maker HBL Power Systems HBLS.NS rise as much as 3.4% to a record high of 554 rupees

** HBLS reports Q3 consolidated net profit jumping 3.3x Y/Y while income from ops rose 80% Y/Y

** Revenue from industrial batteries segment, which forms almost a third of co's income rose ~41%

** Co also approved investment of 1.75 bln rupees ($21.09 mln) for capital expenditure during FY25 including 600 mln rupees for lithium ion cell production plant

** Share price above 50-day, 100-day and 200-day exponential moving averages since Oct. 26

** Stock rose ~313% in 2023, its best yearly performance since 2007 listing

** Shares of rivals Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS rose 42.7% and 76.3%, respectively in 2023, while Eveready Industries India ERDY.NS fell 4.5%

($1 = 82.9700 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

BENGALURU, Feb 6 (Reuters) - Battery maker Eveready Industries India ERDY.NS reported a 55% jump in third-quarter profit on Tuesday, helped by diminishing input costs.

Lithium prices, a key raw material for battery makers, were down in the quarter, helping offset beleaguered rural demand for batteries and flashlights.

Eveready's total expenses fell almost 9% to 2.95 billion rupees, led by a 29% decline in raw material costs. As a result, consolidated net profit rose to 84.1 million rupees ($1 million) in the three months to Dec. 31.

The softness in prices of battery-making metals also helped Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS post profit climbs in the third quarter.

While the two also make batteries, Amara Raja and Exide cater more to automobile and industrial needs while Eveready's products are for household use.

Eveready's revenue, however, fell almost 8% to 3.05 billion rupees.

"The pattern of softer rural consumption in key battery-flashlight segments and continuing industry phenomenon of value diminution in the lighting segment reflected the third-quarter performance," the company said in a statement.

($1 = 83.0310 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Janane Venkatraman)

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BENGALURU, Jan 31 (Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS, formerly named Amara Raja Batteries, posted a bigger-than-expected rise in quarterly profit on Wednesday, helped by strong demand from the automobile sector.

The company's net profit after tax rose 7.6% to 2.40 billion rupees ($28.9 million) in the three months to Dec. 31, beating analysts' estimate of 2.19 billion rupees, according to LSEG data.

The automobile industry's requirement for batteries rose in the quarter as vehicle production increased 21% year-on-year, according to data from industry body Society of Indian Automobile Manufacturers.

Amara Raja has top automakers, including Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Hero MotoCorp HROM.NS, as its clients.

Revenue grew more than 9% to 28.81 billion rupees, boosted by a 12.7% rise in its lead acid batteries and allied products segment which accounts for nearly all its revenue.

The segment includes its industrial business, which benefitted from the expansion of India's 5G network, as Amara Raja also caters to telecom equipment manufacturers.

The company's expenses rose about 10%, while raw material costs rose a marginal 2.3%.

Prices of lead, a key input for battery makers, were down sequentially in the quarter.

Rival battery maker Exide Industries missed third-quarter profit estimates last week.

($1 = 83.0423 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Sohini Goswami)

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BENGALURU, Jan 24 (Reuters) - Indian battery maker Exide Industries EXID.NS reported a smaller-than-expected rise in quarterly profit on Wednesday as higher input costs ate into earnings, despite strong demand from the automobile sector.

Net profit after tax rose 7.7% to 2.40 billion rupees ($28.9 million) in the third quarter to Dec. 31, but missed analysts' estimate of 2.62 billion rupees, according to LSEG data.

Raw material costs climbed 11.6%, increasing total expenses by 13%, even though prices of key input lithium carbonate fell. The company did not specify which material costs increased.

As a result, Exide's earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin declined marginally to 11.5% from 11.8% a year earlier.

"Input cost inflationary pressures have started easing, which coupled with our cost optimisation initiatives is expected to support margins," CEO and MD Subir Chakraborty said in a statement.

Demand for batteries increased from the automobile industry as vehicle production rose in the October-December period.

That helped Exide log a 12.6% growth in revenue - the sharpest since the September 2022 quarter - to 38.41 billion rupees.

The automobile industry is key to Exide's earnings, accounting for more than two-thirds of its revenue.

Rival battery maker Amara Raja Energy & Mobility AMAR.NS will report its third-quarter results next week.

($1 = 83.1600 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Subhranshu Sahu)

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BENGALURU, Oct 31 (Reuters) - India's Amara Raja Energy & Mobility AMAR.NS on Tuesday reported a jump in second-quarter profit, as improved demand for its products helped offset higher expenses.

The Amaron battery maker's consolidated net profit after tax came in at 2.26 billion rupees ($27.2 million), up nearly 13% from a year ago.

Improved rainfall in September led to a recovery in rural demand, particularly for two-wheelers, analysts said, leading to increased battery sales for Amara Raja.

Amara Raja's clients such as Maruti Suzuki MRTI.NS have also boosted production as semiconductor supplies improved. Auto ancillary companies benefit from improved automobile production, which was hurt last year by chip supply chain issues.

The company's revenue rose over 9% to 29.59 billion rupees, boosted by a 6.5% climb in its lead acid batteries and allied products segment which accounts for nearly all its revenue.

The segment also includes its industrial business, which benefitted from expansion of India's 5G network, as Amara Raja also catering to telecom equipment manufacturers.

Expenses, however, rose 9.4%, led by a 7.6% increase in input costs. Average prices for key battery material lead increased 14% year-on-year.

The company plans to expand into the two-wheeler electric vehicle (EV) market, first through chargers and then batteries, as part of an expansion to triple its lithium-ion business this financial year, a top executive told Reuters in August.

Amara Raja is the first of India's major listed battery makers to report earnings. Shares of the company closed down 2.9% ahead of the results.

($1 = 83.2484 Indian rupees)

(Reporting by Varun Vyas and Manvi Pant in Bengaluru; Editing by Varun H K)

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** Amara Raja Batteries AMAR.NS up ~2%, a day after tumbling 6% as a large shareholder sold its 14% stake

** Trading vol on the day is 1.22 mln shares, less than the 30-day avg and well below the 35.5 mln vol on Tues

** NSE data shows BNP Paribas, Societe Generale Tata AIA Life Insurance, Nippon India Mutual Fund, Kotak Mahindra Mutual Fund and Pinebridge Inv Asia picked up some AMAR shares

** AMAR up 14.5% so far in 2023 vs an over 9% rise in benchmark Nifty 50 .NSEI

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

Adds block deal data in fourth bullet, updates levels throughout

** Shares of Amara Raja Batteries Ltd AMAR.NS fall as much as 6.1% to 643.40 rupees in most active trading session since May 25, 2021

** Clarios ARBL Holding LP could sell its entire 14% stake in co via block deals on Tuesday, CNBC-TV18 reports, citing sources

** AMAR, Clarios didn't immediately respond to Reuters' requests for comment

** About 27.3 mln shares of AMAR, or 16% stake, change hands in 17 block deals as of 12:45 p.m. IST - Refinitiv data; avg rating of 13 analysts at "Hold;" median PT is 658 rupees

** Stock logs biggest intraday pct loss since Dec. 23

** Over 32.8 mln shares change hands by 12:45 p.m. IST

** Stock trims YTD gains to 14%

(Reporting by Nandan Mandayam and Biplob Kumar Das in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Amara Raja Batteries Ltd AMAR.NS fall as much as 2.44% to 619 rupees

** Co's Q4 revenue and net profit fell 8% and 37% Q/Q, respectively

** Y/Y revenue growth of 11% also missed our estimates - Motilal Oswal

** However, co reports 41% Y/Y rise in Q4 profit as Q4FY22 earnings impacted due to geopolitical concerns after Russia's invasion of Ukraine, which led to spike in costs of raw materials used to make batteries

** Trading volume is 559,785 shares as of 1:58 p.m. IST, 1.5 times the 30-day avg - Refinitiv data

** Of the 15 analysts tracking AMAR, five maintain "buy", two recommend "sell" and eight suggest "hold"; median TP is 630 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

BENGALURU, May 23 (Reuters) - India's Amara Raja Batteries Ltd AMAR.NS reported a 41% jump in fourth-quarter profit on Tuesday, powered by strong demand from auto makers and accelerated 5G rollouts in the telecoms space.

Consolidated net profit after tax rose to 1.39 billion rupees ($17.00 million) in the quarter, compared with 988.5 million rupees a year ago, the Tirupati, Andhra Pradesh-based company said in an exchange filing.

Amara Raja, which caters to automotive and industrial demand for power storage, manufactures lead-acid batteries, with Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Bajaj Auto BAJA.NS among its clients.

Auto ancillary companies benefit from strong automobile sales, which steadily improved during the quarter supported by easing chip shortages, festive demand and fervent pre-buying before tighter fuel emission norms are set in place.

Consolidated revenue from operations rose more than 11% to 24.29 billion rupees, the maker of Amaron batteries said.

An accelerated pace of 5G rollouts across the country has also improved demand for the company's industrial battery segment, which caters to telecoms equipment manufacturers and other industry segments including power, oil and gas.

The company's board of directors recommended a final dividend of 3.20 rupees.

However, Amara Raja Batteries' total expenses rose about 7% to 22.13 billion rupees during the quarter.

Earlier this month, bigger rivals Eveready Industries ERDY.NS posted a smaller loss, while Exide Industries EXID.NS missed Q4 profit estimates on higher raw material costs.

Shares of Amara Raja Batteries closed 0.1% higher ahead of results on Tuesday.

($1 = 81.7800 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Rashmi Aich)

(([email protected]; +91 9830427878;))

** Shares of Amara Raja Batteries Ltd AMAR.NS rise as much as 4.48% to 638 rupees, a near six month high

** Battery maker launches one of India's largest and Telangana state's first gigafactory, which will produce lithium cell, chargers and battery packs and create employment for 4,500 people

** About 608,482 shares change hands as of 10:09 a.m. IST, more than twice the 30-day avg - Refinitiv data

** Of the 15 analysts tracking AMAR, six maintain "buy", two suggest "sell" and seven recommend "hold"; median TP is 633 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))