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Amara Raja Energy & Mobility‘s standalone net profit increased 62 per cent at ₹228 crore in the fourth quarter ended March 31, 2024 against ₹252 crore in the corresponding quarter of the previous financial year.
The Hyderabad-based company’s total revenue increased 15 per cent to ₹2,796 crore in the fourth quarter ended March 31, 2024 against ₹2,433 crore. For the full year of FY24, the revenue increased to at ₹11,260 crore compared with ₹10,389 crore during FY23. The earnings per share (EPS) for FY24 was at ₹49.49.
The revenue growth in financial year 2023- 24 was driven by both lead acid battery business and new energy business growing substantially. The consolidated revenue growth stood at 13 per cent In the lead acid battery business strong volume growth momentum continued in both automotive and industrial applications across all customer segments.
“Our business across segments has performed considerably well. In the last FY, we made the big move of changing the company’s name to “Amara Raja Energy & Mobility” to reflect our vision to be leading India’s energy transition, especially in energy storage and mobility spaces,’’ Jayadev Galla, Chairman and Managing Director said in a release.
The board recommended a final dividend of ₹5.10 per equity share (representing 510 per cent ) of ₹1 each fully paid up for the financial year 2023-24, The above final dividend is in addition to the interim dividend of ₹4.80 per equity share (representing 480 per cent declared by the board on October 31, 2023.
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