On Tuesday (May 28), Amara Raja Energy Ltd (previously Amara Raja Batteries) reported a 61.4% YoY increase in net profit of ₹229.8 Crore for the fourth quarter ended March 31, 2024.
In the same quarter last year, Amara Raja Energy reported a net profit of ₹142 Crore, according to a regulatory filing. The company’s income from operations climbed by 19.5% to ₹2,908 Crore from ₹2,433.2 Crore in the previous corresponding period.
EBITDA increased by 16.2% to ₹410.4 Crore in Q4 of this fiscal year, up from ₹353.2 Crore in Q4 of FY23. The EBITDA margin was 14.1% in the reporting quarter, compared to 14.5% in the same period last fiscal year.
The board has recommended a final dividend of ₹5.10 per equity share (510%) of ₹1 each fully paid up for the financial year 2023-24, subject to shareholder approval at the 39th AGM.
The dividend, if approved, will be paid within 30 days of the AGM. This payment will be in addition to the interim dividend of ₹4.80 per equity share (480%) issued by the board on October 31, 2023.
For the fiscal year ending March 31, 2024, the company declared a profit after tax of ₹934 Crore, up from ₹731 Crore in 2022-23. The current fiscal year’s operating revenue increased to ₹11,708 Crore, up from ₹10,392 Crore in FY23.
Harshavardhana Gourineni, Executive Director – Automotive & Industrial Batteries, stated that the company has seen substantial and sustained growth in both industrial and automotive applications, resulting in a 10% increase in overall revenue.
At around 11.28 AM, Amara Raja Energy was trading 1.59% lower at Rs 1,227.80 per piece, against the previous close of Rs 1,247.65 on NSE. The counter touched an intraday high and low of Rs 1,278, and Rs 1,192.60, respectively.
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