Amara Raja FY10 net doubles to Rs 167 cr

Industrial and automotive battery manufacturer Amara Raja Batteries has reported a 107 per cent rise in net profit for the year ended March, 2010.

The company posted a net profit of Rs 167.03 crore for the 2009-10 fiscal, up 107 per cent from Rs 80.47 crore in the same period last year, a company statement said here.

For the quarter ended March 31, 2010, net profit stood at 36.69 crore against Rs 28.04 crore in the corresponding period last year.

Total income for the year ended March 31, 2010, grew to Rs 1,467.36 crore from Rs 1,319.58 crore in the same period of the previous year.

For the quarter ended March 31, 2010, total income stood at Rs 433.29 crore against Rs 331.09 crore in the same period last year, it said.

The company said the board has recommended a dividend of Rs 2.90 per equity share of Rs 2 each for the year ended March 31, 2010.

Amara Raja Batteries Managing Director Jayadev Galla said in a statement that the 2009-10 fiscal has been a significant year, with the highest ever profits in the company's history.

"The recovery of the automotive industry, operational excellence aided by organisational restructuring and strong brands have enabled the company to post excellent results," he said.

"Going forward, we continue to face the challenges of volatility in lead prices and forex rates in managing our performance," he said.

Amara Raja Batteries is an Amara Raja Johnson Controls Company, with 26 per cent equity held by Johnson Controls, and manufactures lead acid batteries for both industrial and automotive applications.

The company's industrial and automotive batteries are exported to the Asia-Pacific, Africa and the Middle East, the release added.