Amara Raja Batteries Limited, a manufacturer of industrial and automotive batteries, witnessed a 37 per cent decline in its net profit to Rs 18.7 crore for the third quarter ended December 31, 3008, as compared with Rs 29.7 crore in the corresponding quarter last year. Net sales for the quarter under review stood at Rs 333 crore, as against Rs 307.9 crore, reflecting a growth of 8.15 per cent.
“While the volatility in lead continues to pose challenge for the business, provisioning for forex translation losses has impacted the bottom line. With focused cost control efforts and prudent treasury management, we are optimally leveraging our cash flows,” K Suresh, financial controller of the company, said in a press release.