Amara Raja Batteries Limited posted a net profit of ₹189.38 crore for the fourth quarter ended March 31 as against a profit of ₹137.30 crore for the corresponding quarter last year on a consolidated basis.
The batteries major registered total income of ₹2,134.70 crore for the fourth quarter as against ₹1,595.50 crore reported during the corresponding quarter last fiscal.
For the financial year ended March 31, the batteries major posted a profit of ₹646.83 crore and income of ₹7,237.14 crore as against a profit of ₹660.80 crore and income of ₹6,894.33 crore for the previous fiscal.
The Board of Directors of the Company recommended a final dividend of ₹6 per equity share (representing 600 per cent) on the equity share of ₹1 each fully paid up for the financial year ended March 31.
Jayadev Galla, Vice Chairman & Managing Director, ARBL, said, “We have managed to perform better than the previous year despite the very challenging and uncertain environment during the fiscal year gone by. The last quarter of FY21 witnessed strong growth across all segments. Our employees and business partners have responded to the challenges with greater resilience and agility.”
“While the second wave of Covid and the resultant lockdowns currently being enforced are creating unpredictability in the product off take, we are working to ensure the product availability across all market is taken care of by dynamically managing the supply chain,” he said.
The company capacity augmentation projects are being implemented as per schedule in anticipation of strong revival of economic activity in the country in the near term.
The company witnessed an impressive revenue growth in the last quarter of FY21, which was aided by strong volume growth in both automotive and industrial applications across all customer segments. These sectors witnessed better than expected demand in the last two quarters of the last financial year, resulting in emerging industry needs and a stronger market demand. Consequently, the company has been keeping manufacturing operations at the optimum capacity utilisation levels while following strict employee health and safety measures, owing to the Covid second wave.