Amara Raja Batteries announced its consolidated net profit after tax. It rose by 38 per cent to Rs 189 crore for the fourth quarter ended March 2021 on the backed by vigorous sales across business verticals.
The company said in a statement that the net revenue from operations stood at Rs 2,103 crore as compared to Rs 1,581 crore in the fourth quarter of 2019-20.
It had reported a net profit after tax of Rs 137 crore for the January-March quarter of 2019-20.
For the fiscal 2020-21 in total, the company posted a net profit after tax of Rs 647 crore as against Rs 661 crore in FY20.
Net revenue from operations for the last fiscal rose to Rs 7,150 crore as against Rs 6,839 crore in 2019-20.
Vice Chairman and Managing Director-Amara Raja Batteries, Jayadev Galla said that the last quarter of FY21 witnessed strong growth across all segments. And that the employees and business partners have responded to the challenges with greater resilience and agility.
He added that while the second wave of COVID-19 and the resultant lockdowns currently being enforced are creating unpredictability in the product offtake, the company is working to ensure product availability across all markets is taken care of by dynamically managing the supply chain.
The company’s capacity augmentation projects are being implemented as per schedule in anticipation of strong revival of economic activity in the country in the near term, he remarked.
Galla said, “While the short-term challenges posed by the second wave of COVID are being addressed with agile organizational processes, we remain focused on preparing ourselves for the future opportunities in both the energy storage and mobility energy application, by participating in advanced cell technologies and creating sustainable products.”
The company’s board has recommended a final dividend of Rs 6 per share of face value Re 1 each for the financial year 2020-21.
Smrutirekha Bhoi