Amara Raja Batteries slips 8% post Q4 results

The stock fell 8% to Rs 760, extending its 5% decline on Friday on the BSE after the company reported a lower than expected 10.7% growth in standalone net profit at Rs 1.1 billion in March quarter.

Shares of Amara Raja Batteries have declined 8% to Rs 760 per share, extending their 5% fall on Friday on the BSE after the company reported a lower than expected 10.7% growth in standalone net profit at Rs 1.1 billion in March quarter (Q4FY18). Analysts on an average had expected profit of Rs 1.26 billion for the quarter.

Net revenue from operations during the quarter under review increased 17.5% at Rs 15.80 billion against Rs 13.44 billion in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, tax, depreciation and amortisation) margin declined 40 basis points to 13.3%