Amara Raja reports Rs 660 crores net in FY20
Battery major Amara Raja Batteries Limited on Monday reported a net profit of Rs 660.82 crores for the financial year 2019-20, registering a growth of 37 per cent from Rs 483.49 crore net profit a year ago
Hyderabad: Battery major Amara Raja Batteries Limited on Monday reported a net profit of Rs 660.82 crores for the financial year 2019-20, registering a growth of 37 per cent from Rs 483.49 crore net profit a year ago.
Revenue for FY20 stood at Rs 6,839.46 crore as compared to Rs 6,793.11 crores during FY19. The earnings per share (EPS) for FY20 was at Rs 38.69.
For January-March quarter, the company reported a profit after tax (PAT) of Rs 136.65 crore against Rs 119.34 crore in the same period a year ago. Its revenue for fourth quarter was Rs1,581.39 crore compared to Rs 1,566.73 crore a year ago.
The earnings per share (EPS) for Q4FY20 was at Rs 8. The company said its Automotive Business Division had substantially overcome the demand slowdown in auto OEM segment aided by significant traction in volume growth in domestic replacement market and exports under challenging market conditions.
"In spite of market disruptions towards the year end due to the Covid-19 induced lockdown restrictions, the automotive brands continued strong growth momentum across vehicle segments.
However, growth in home UPS segment has been moderate as the seasonal demand for inverter batteries was severely impacted by the lockdown restrictions in March," the company said.
Jayadev Galla, Vice Chairman & Managing Director, Amara Raja, said, "FY20 saw us performing strongly against odds in the overall business environment and helped us emerge stronger.
The automotive sector is dealing with a lot of challenges due to regulatory changes, technology shifts and demand uncertainty due to lockdown".