Amara Raja Q4 net up 34% at Rs 80 cr

Net sales up 10% at Rs 885 cr

Amara Raja Batteries Ltd reported a 34.31 per cent increase in net profit at Rs 80.05 crore for the fourth quarter (Q4) ended on March 31, 2014. The company posted a net profit of Rs 59.60 crore for the corresponding quarter previous fiscal. Net sales during the quarter were up 10.49 per cent at Rs 885.14 crore as against Rs 801.06 crore.

During the financial year 2013-14, net profit rose 28.15 per cent to Rs 367.44 crore, up from Rs. 286.71 crore in the previous fiscal. Net sales increased 16.14 per cent to Rs 3,436.66 crore from Rs. 2,958.92 crore in 2012-13.

"We are pleased to report yet another highest ever sales and profit for the company for the financial year 2013-14 regardless of supply constraints and slowdown in the automobile industry," said Jayadev Galla, vice chairman and managing director of Amara Raja.

"Both our industrial and automotive battery reported double-digit revenue growth and gained market share. We remain cautiously optimistic of the segment’s performance in the coming years amid continuing uncertainty in the macro-economic conditions," he said.

Amara Raja Batteries said its board on Wednesday approved a dividend of Rs 3.23 per equity share of Re 1 each for 2013-14. The company's shares today ended at Rs 392.10, down 2.15% from the previous day's closing of Rs 400.70.