Indian battery maker Amara Raja slides after quarterly profit slump
Shares of India's Amara Raja Energy & Mobility AMAR.NS slide 4.9% to 867.35 rupees
AMAR set for its worst single-day percentage drop since end-May 2025, if losses hold
Battery maker posted a 51.4% drop in Q3 profit on Wednesday, hurt by rising raw material costs and a one-time charge tied to India's labour code
While battery sales to automakers and industrial clients were steady, weak exports weighed
AMAR's EBITDA came in below estimates of Motilal Oswal, J.P.Morgan and Investec, brokerages say
J.P. Morgan ("neutral") cuts PT to 1,010 rupees from 1,115 rupees earlier; lowers FY26-28 EPS estimates by 5%-11%
Analysts rate AMAR and rival Exide Industries EXID.NS "hold" - data compiled by LSEG
AMAR turns YTD negative, last down 4.5%; rival EXID down 7%
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