Amara Raja Batteries Q4 net dips 9 pc to Rs 99 cr

Amara Raja Batteries today reported 9.17 per cent dip in its net profit at Rs 99 crore for the fourth quarter ended March 31.
The company had posted a net profit of Rs 109 crore in the same period of previous fiscal.
Gross sales of the company, however rose to Rs 1,512 crore for the fourth quarter as against Rs 1,286 crore for the same period of previous year, Amara Raja Batteries said in a statement.
For the year ended March 31, the company posted a profit after tax of Rs 478 crore as against Rs 492 crore in the 2015 -16 fiscal.

Gross sales for the year ended March 31, rose to Rs 5,981 crore as compared with Rs 5,184 crore in the previous fiscal.
"Increase in lead prices towards the later part of the financial year presented cost challenges which are being addressed through a mix of pricing and aggressive cost management strategies," Amara Raja Batteries Vice Chairman and Managing Director Jayadev Galla said.
The company's board, which met today, has recommended a dividend of Rs 4.25 per share for the financial year ended March 31, 2017.
Amara Raja shares today ended 4.5 per cent down at Rs 834.85 apiece on BSE.