Amara Raja Q3 revenues and net profit shoot up 110% and 206% respectively
(Business News, 04 Feb 2008 )
Industrial and Automotive Battery major Amara Raja Batteries Limited has recorded revenues of Rs.3138 million (Net Sales: Rs. 3079 million + other income: Rs. 59 million), PBT of Rs. 475.16 million and PAT of Rs. 296.56 million for the third quarter of FY 2007-08. For the quarter ended Dec 07 the topline has grown by 110% while PAT rose by a whopping 206% as compared to the corresponding quarter of last year.
During the nine-month period (April-December 07) of the current financial year, the Company’s net revenue was Rs.7786 million as compared to Rs.4027 million during the corresponding period of the previous year and net profit grew to Rs.682 million from Rs.318 million.
Announcing the company’s Q3 results, Managing Director, Mr. Jayadev Galla said, “As things stand today, we are well on course to achieving the stated target of Rs. 1000 crore revenue by March this fiscal. Growth projections in the industrial battery market seem to be an underestimation and are seeing upward revisions, quarter to quarter. This has fed the growth trajectory in the Industrial battery segment. Automotive batteries segment has also grown at a good pace.” “Lead prices have softened to around $2600 currently from the October high of around $4000 which is quite heartening, though we need to keep a cautious watch on this front,” he added.
“Our growth and funding plans are going as per schedule. The decision of the board to sub-divide the shares to Rs.2 /- face value has not only enabled to broaden the shareholder base by almost 50%, but also created adequate liquidity to ensure market capitalisation of Rs.10 billion ,” observed Mr. K. Suresh, Financial Controller.
