Hyderabad (Telangana) [India], May 22 (ANI): Amara Raja Batteries Ltd (ARBL) reported a profit before tax of Rs 259 crore in the quarter ending March, a growth from the prior year period’s Rs 178 crore.
Net revenue from operations rose from Rs 1,581 crore in Q4 FY20 to Rs 2,103 crore in Q4 FY21.
This was attributed to a sharp increase in volume in both automotive and industrial applications across all customer segments.
The sectors experienced higher-than-anticipated demand in the last two quarters of FY21, leading to increased industry needs and a greater market demand.
Consequently, the company maintained production operations at maximum capacity utilisation while observing stringent employee health and safety protocols due to the second Covid wave.
“We are striving to ensure product availability in all markets by managing the supply chain dynamically,” said Vice Chairman and Managing Director Jayadev Galla.
“We are focusing on preparing ourselves for the future prospects in both energy storage and mobility energy applications by participating in advanced cell technologies and creating sustainable products,” he said in a statement.
For FY21, the company reported revenues of Rs 7,150 crore compared to Rs 6,839 crore in FY20 and profit before tax of Rs 873 crore (Rs 841 crore).
Earnings per share for FY21 amount to Rs 37.87. The company has recommended a final dividend of Rs 6 per equity share on each unit of Re 1 each fully paid up for the financial year ended March 31.
The company supplies automotive batteries under OE relationships to Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki and Tata Motors.
Its industrial and automotive batteries are exported to countries in the Indian Ocean Rim. (ANI)