Amara Raja Batteries Limited has reported a 6.2 per cent increase in net profit at Rs 108.60 crore for the quarter ended March, 2016, as compared with Rs 102.26 crore in the corresponding quarter previous year.
However, the company scrip fell as such as 4.87 per cent in today's trade on the Bombay Stock Exchange. There was a 20 per cent decline in net profit on a sequential basis when compared to Rs 136.18 crore in the third quarter ended December, 2015.
Total income grew 9.65 per cent to Rs 1,169.65 crore in the quarter under review, as compared with Rs 1,066.70 crore in the year ago period, while the same was 4.5 per cent lower compared to Rs 1,225.14 crore in the third quarter ended December 2015. Total expenditure grew by 9.6 per cent to Rs 1,016.11 crore from Rs 926.97 crore on higher material costs. There was a marginal decline in expenditure on a sequential basis.
For the full year, the company achieved 19 per cent growth in net profit at Rs 489 crore, as compared with Rs 411 crore the previous year. Total income from operations stood at Rs 4,691 crore, up 11 per cent, compared with Rs 4,211 crore in the previous year.
Amara Raja management said the board has approved a plan to ramp up the production capacity of two-wheeler batteries to 25 million units from the present 11 million unit capacity over a period of 4 years. In the first phase the capacity would be expanded to 15 million units per annum. The board has already approved expansion of four-wheeler battery capacity to 11 million units from the present 8.25 million unit capacity level.
The company share price fell to Rs 850.85, down by Rs 43.10 compared to the previous day's close.