Amara Raja Batteries reports 18% fall in Q3 net profit
Amara Raja Batteries has reported results for third quarter ended December 31, 2016.
The company has reported 17.91% fall in its net profit at Rs 112.32 crore for the quarter under review as compared to Rs 136.82 crore for the same quarter in the previous year. However, total income of the company increased by 9.73% at Rs 1515.25 crore for the quarter under review as compared Rs 1380.89 crore for the corresponding quarter previous year.
Amara Raja Batteries is engaged in manufacturing of industrial and automotive batteries. The company was first to introduce Valve Regulated Lead Acid (VRLA) batteries with three-year warranty in industrial and automotive applications.
Technical Levels
Support at 855 and Resistance 890
Break and sustain below 855 will take it to 845—840 and then 830 mark else could test its resistance level of 890.
Further upside rally will see if closes 890.00
More will update soon!!
