Amara Raja Batteries Q4 net profit up 34% at Rs 80 crore

NEW DELHI: Amara Raja Batteries today reported 34.31 per cent increase in net profit at Rs 80.05 crore for the fourth quarter ended March 31.

It had posted net profit of Rs 59.60 crore in the January -March period of last fiscal, Amara Raja informed the BSE.

Its net sales during Q4, 2013-14 were at Rs 885.14 crore as against Rs 801.06 crore in the year-ago period.

For the financial year 2013-14, the company's net profit increased to Rs 367.44 crore, from Rs 286.71 crore in the previous fiscal. The net sales for the year increased to Rs 3,436.66 crore from Rs 2,958.92 crore in 2012-13.

Amara Raja Batteries Vice Chairman and Managing Director Jayadev Galla said: "We are pleased to report yet another highest ever sales and profit for the company in the financial year 2013-14 regardless of supply constraints and slowdown in the automobile industry.

"Both our industrial and automotive battery have reported double digit revenue growth and gained market share."

On the future outlook, he said that the company remains "cautiously optimistic" of its performance in the coming years, amid continuing uncertainty in the macro economic condition, escalating costs and probably supply constraints.

"However, our ability to anticipate and perform with the distinct approach will help us to sustain the growth momentum," Galla said.

In a separate filing Amara Raja Batteries informed the BSE that its board today approved a dividend of Rs 3.23 per equity share of Re 1 each for 2013-14.

The company's scrip closed at Rs 392.10, down 2.15 per cent, on the BSE.