Amara Raja Q4 net profit shoots 62% YoY to Rs 230 crore; announces dividend

Amara Raja's board has approved a final dividend of Rs 5.10 per share

Amara Raja Energy & Mobility (AREM), formerly known as Amara Raja Batteries Limited, said its consolidated profit after tax rose 62 percent to Rs 230 crore for the fourth quarter ended March 2024. The flagship company of the Amara Raja Group had reported a profit after tax of Rs 142 crore in the January-March quarter of 2022-23 fiscal.

The Hyderabad-company's revenue from operations rose to Rs 2,908 crore for the fourth quarter as against Rs 2,433 crore in the year-ago period.

For the year ended on March 31, 2024, the company reported a profit after tax of Rs 934 crore as against Rs 731 crore in the  2022-23 financial year.
Revenue from operations for the last fiscal rose to Rs 11,708 crore as compared to Rs 10,392 crore in FY23.

Jayadev Galla, Chairman & Managing Director, said, “Our business across segments has performed considerably well. Today, we have a wide array of products and solutions that cater to every type of automotive and industrial application.”

The company said its board has approved a final dividend of Rs 5.10 per share.

The automobile industry's requirement for batteries rose in the quarter as vehicle production increased more than 21 percent year-on-year, according to data from industry body Society of Indian Automobile Manufacturers (SIAM).

Amara Raja has top automakers, including Maruti Suzuki, Tata Motors, and Hero MotoCorp, as its clients.

Harshavardhana Gourineni, Executive Director - Automotive & Industrial Batteries said that the company observed robust and sustained growth in both industrial and automotive applications, that resulted in overall revenue growth of 10 percent.

"This was accomplished in part by launching new product ranges and brands in the automotive aftermarket and data center segments. In the last FY, we strengthened our global presence by entering the North American and European markets, placing our products in over 50 countries,” he said.

Vikramadithya Gourineni, Executive Director - New Energy Business, revealed that the company's Giga Corridor project in Telangana is progressing smoothly and it is all set to begin commercial production at its pack facility.