Good performance from the automotive and industrial segments helped Amara Raja Batteries Ltd post a significant rise in net profit at ₹80.05 crore for the fourth quarter ended March 31 against ₹59.60 crore in the corresponding quarter of the previous year.
Total Income from operations increased to ₹887.94 crore during the fourth quarter, up from ₹803.75 crore in the year-ago period.
For the financial year ended March 31, 2014, the company posted a net profit of ₹367.44 crore against ₹286.71 crore in the previous year. Total income from operations for the full year was up at ₹3,451.75, compared with ₹2,978.60 crore in the previous year.
“We are pleased to report the highest-ever sales and profit numbers for the company for the financial year 2013-14, regardless of supply constraints and the slowdown in the automobile industry. Both industrial and automotive battery units have reported double-digit revenue growth and gained market share,” said Jaydev Galla, Vice-Chairman and MD.
“We remain cautiously optimistic of the company’s performance in the coming year, against the backdrop of continuing uncertainty in the macroeconomic condition, escalating costs and probable supply constraints,” he added.
The company’s automotive battery division reported strong performance supported by four and two-wheeler batteries, despite capacity constraints.
The year registered flat business in the automotive original equipment manufacturers segment, in spite of the negative growth in automobile production.
Amara Raja has created a separate task force for inverter batteries. The industrial battery business, too, registered robust performance. During the year, the capacity of four-wheeler batteries was enhanced from 5.6 million units to 6 million units, and for two-wheelers from 4.8 million to 8.4 million units a year.