Amara Raja Batteries Q4 results: Share price falls over 2% after Q4 earnings

Amara Raja Batteries’ consolidated net profit in Q4FY23 jumped 41% year-on-year to ₹139.4 crore.

The company’s revenue from operations increased by 11.4% to ₹2,429.4 crore as compared to ₹2,180.9 crore in the same quarter of the previous fiscal year.

EBITDA during the quarter stood at ₹261.90 crore, up 10.9% from ₹236.15 crore, YoY.

Read here: Amara Raja Batteries reports 41% rise in profit

“We observed robust and sustained growth in both industrial and automotive applications. We’ve always been the market leaders in 2W and now we are at the top even in 4W segment. We are currently in the process of launching a new brand of batteries in the domestic market and expanding our international operations as well,” said Harshavardhana Gourineni, Executive Director – Automotive & Industrial Batteries, Amara Raja Batteries.

For the full financial year ending in March 2023, the company’s consolidated net profit increased by 35.5% to ₹694.5 crore from ₹512.6 crore in FY2022. The consolidated revenue grew by 19.4% to ₹10,388.2 crore.

The company’s board approved a final dividend of ₹3.20 per share for the financial year ended 31 March 2023.

The stock of Amara Raja Batteries has risen over 26% in the last one year.

At 1:15 pm, the shares of Amara Raja Batteries were trading 2.32% lower at ₹619.75 apiece on the BSE.

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