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Industrial and automotive battery maker, Amara Raja Batteries Limited, has witnessed a 27.87 per cent rise in its net profit to Rs 102.3 crore for the fourth quarter ended March 2015, as compared with Rs 80 crore in the corresponding quarter of the previous year.
Total income during the quarter under review increased marginally to touch Rs 1,069.84 crore, as against Rs 1,066.45 crore achieved during the same period a year ago.
For the full year ended March 2015, Amara Raja reported a net profit of Rs 410.86 crore, as against Rs 367.44 crore in the previous year, reflecting a growth of 11.81 per cent, while its total income rose 22.54 per cent to Rs 4,230.07 crore, as compared with Rs 3,451.75 crore last fiscal. The company attributed the low net profit to accelerated depreciation as per the provisions of the new Companies Act, 2013.
“Our industrial and automotive battery units have reported double-digit revenue growth and gained market shares. We remain cautiously optimistic of the company’s performance in the coming year, against the backdrop of continuing uncertainty in the macro-economic condition, escalating costs and probable supply constraints,” Jayadev Galla, vice-chairman and managing director of Amara Raja, said in a filing to the exchanges on Friday.
According to SV Raghavendra, chief financial officer of Amara Raja, the company continued to enjoy a debt-free status and had free cash available to the tune of over Rs 220 crore at the end of the financial year.
“The year under review saw the company’s market capitalisation touching Rs 15,000 crore with considerable improvement in PE ratio, reflecting growth investor confidence. The capacity enhancement for the four-wheeler battery business has been completed and production has commenced during the last quarter of the year. Further, expansion of the two-wheeler battery capacity and green-field tubular battery plant are in progress as per the plan,” he said.
