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Amara Raja Batteries Ltd has posted a profit of Rs 109.80 crore during the fourth quarter ended March 31, 2018 as against a profit of Rs 99.19 crore for the corresponding quarter last year. The batteries major posted revenues of Rs 1,604.44 crore for the fourth quarter as against Rs 1,526.99 crore for the corresponding quarter last year.
For the fiscal ended March 31, 2018, the company posted a profit of Rs 471.32 crore and revenue of Rs 6,299.35 crore, as against a profit of Rs 478.49 crore and revenue of Rs 6,030.63 crore for the previous financial year.
To pay Rs 2.15 per share final
The board, which met at Milwaukee in the US, declared a final dividend of Rs 2.15 per equity share of Rs 1 each (215 per cent) for the financial year 2017-18. The total dividend for the year amounts to Rs 4.15 per share.
Jayadev Galla, VC and MD of Amara Raja, said, “The buoyancy in automotive sector presents us significant opportunities to continue our growth momentum. This has helped the company offset some of the impact due to subdued telecom demand.”
“The electric mobility and energy storage opportunities will open up new growth avenues for us and we will continue to invest in strengthening the brands, distribution channels, technology and manufacturing capacities to further consolidate our market position,” Galla said.
S Vijayanand, CEO, Amara Raja, said, “The company is focused on broad-basing the telecom customer portfolio and geographic spread to tap into new opportunities. Coupled with aggressive cost management, this should help us to continue to grow the industrial battery business.”
“We are encouraged by the significant growth in export volumes, both in automotive and industrial products, and will continue to pursue opportunities in focused overseas markets. The ongoing capacity expansion programmes are on track and have been helping us meet the increasing demand for various product lines. We continue to closely calibrate our pricing decisions in tandem with volatile lead prices and depreciating rupee,” the CEO said.
While the automotive battery business achieved strong volume growth helped by buoyant auto sector growth, the replacement market has also seen healthy growth. The industrial battery business was witness to a muted growth as a result of consolidation in telecom sector. The UPS and railway segments have been healthy.
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