Amara Raja Batteries Ltd has posted a net profit of Rs 59.60 crore for the fourth quarter ended March 31, 2013, against Rs 58.28 crore for the corresponding period last year.
The profit for the fourth quarter would have been higher but for provision of Rs 7.5 crore towards impairment in value of asset and additional depreciation of Rs 5 crore due to revision in estimated useful life of certain assets.
The company’s total income for the fourth quarter was up at Rs 803.75 crore against Rs 673.35 crore for the corresponding period last year.
FULL YEAR
Net profit for the financial year ended March 31, 2013, was up at Rs 286.70 crore on a turnover of Rs 2981.07 crore, against a net profit of Rs 215.06 crore on a turnover of Rs 2380.92 crore for the previous financial year.
The company in a statement from Milwaukee, US, informed that a dividend of Rs 2.52 (252 per cent) per equity share of Rs 1 each has been approved for the year subject to shareholders’ nod.
Jayadev Galla, Managing Director, has been reappointed as Vice-Chairman and MD.
K. Suresh, Chief Financial Officer, said: “The company continues to enjoy debt-free status and has free cash of over Rs 350 crore. Various capacity enhancement projects, undertaken during the year, are progressing as per schedule.”
The company’s shares closed at Rs 265.20, down 5.25 per cent, on the BSE on Tuesday.