Industry

Amara Raja Batteries Q4 net up

Amara Raja Batteries’

Q4 net profit rises 8.7%

Battery maker Amara Raja has posted a ₹119.34 crore standalone net profit for the quarter ended March, an 8.68% rise over the year earlier period’s ₹109.80 crore. Total income fell to ₹1,573.05 crore (₹1,604.44 crore). For 2018-19, the net profit was ₹483.49 crore (₹471.32 crore) while total income stood at ₹6,839.88 crore (₹6,299.35 crore). The board has recommended a final dividend of ₹5.08 per equity share (of face value of Re.1). In November, the company had paid an interim dividend of ₹2 per share.

A release from Amara Raja Batteries on the results said the automotive battery business continued healthy double digit growth during the year. The after market battery business in both four-wheeler and two-wheeler space witnessed demand pick up, while the OEM business saw some pressures in growth due to slowdown in new vehicle sales.

The industrial business witnessed a moderate growth in volumes in segments like UPS and railways. Telecom volumes, however, remained subdued due to consolidation of the tower companies in the telecom market and the competitive pressures.

Vice chairman and managing director Jayadev Galla said the company was making significant investments into capacity and capability building across various products and process technologies for meeting market demand, including the emerging opportunities in renewable energy and electric mobility.

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Printable version | Feb 29, 2020 9:07:45 AM | https://www.thehindu.com/business/Industry/amara-raja-batteries-q4-net-up/article27141746.ece

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