Amara Raja stock down over 3% on fall in Q3 profit

Shares of Amara Raja Batteries today fell by over 3 per cent after the company posted 18 per cent decline in net profit for the December quarter of the current fiscal.
The stock closed 3.34 per cent lower at Rs 872.20 on BSE. Intra-day, it had slipped 4.99 per cent to Rs 857.25.
On NSE, shares of the company fell by 3.42 per cent to close at Rs 870.60.
Amara Raja yesterday posted 17.90 per cent fall in net profit at Rs 112.32 crore for the October-December quarter, 2016-17, due to higher expenses.
The company had posted net profit of Rs 136.82 crore for the same period of last fiscal, 2015-16.

Its total income from operations rose however by 9.67 per cent to Rs 1,502 crore during the quarter from Rs 1,369.54 crore in the year-ago period, Amara Raja Batteries said in a BSE filing.
The expenses were up 14.46 per cent at Rs 1,344.96 crore as compared to Rs 1,175.03 crore in the corresponding quarter of the last fiscal.