Industrial and automotive battery maker Amara Raja Batteries today posted a 12% jump in its net profit after tax (PAT) to Rs 41.1 crore for the quarter ended March 31, 2011 as compared to the same period previous fiscal.
The company's board of directors has also declared a dividend of Rs 2.60 per share (face value of Rs 2), subject to the approval of the shareholders, Amara Raja Batteries said in a statement.
The company said the proposed dividend is over and above the 'One Time special dividend' of Rs 2 per share declared and paid in February 2011, to coincide with its silver jubilee year.
During the quarter under review, the company's net sales stood at Rs 500.9 crore, a 16% increase from Rs 431.7 crore posted in the year-ago period.
For the year-ended March 31, 2011, Amara Raja Batteries PAT declined by 11.3% at Rs 148.1 crore as against Rs 167 crore post in the previous fiscal.
During the period, the firm's net sales increased by 20.25% to Rs 1,761.1 crore from Rs 1,464.5 crore recorded in the previous financial year.
"The company has crossed the milestone of Rs 2,000-crore mark in gross sales for the first time, aided by good volume traction in all the businesses. Despite continuing pricing pressure in telecom sector, the company's overall performance was well above plan," Amara Raja Batteries Managing Director Jayadev Galla said in a statement.
