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Amara Raja Batteries FY 09 Q1 net revenue up 49%

Amara Raja Batteries FY 09 Q1 net revenue up 49%
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First Published: Mon, Jul 28 2008. 03 22 PM IST
Updated: Mon, Jul 28 2008. 03 22 PM IST
New Delhi: Amara Raja Batteries, has recorded revenues of Rs3252.17 million, PAT of Rs149.17 million and PBT of Rs238.32 million for the first quarter of FY 2008-09. For FY ‘09 first quarter, the top line has grown by over 49%.
PBT for the quarter, excluding notional exchange loss of Rs91 million on foreign currency loans, has increased by 20% to 329.17 million over Q1 FY 2008 - 09
To further consolidate its growing presence in the industrial battery markets, the company has decided to invest Rs520 million to enhance capacities.
Managing director Jayadev Galla said,“Growing demand in telecom and UPS segments continues to increase the industrial batteries business. Our plans to increase capacity and distribution network are going as per schedule and would contribute to our top line growth”
Ramachandra N Galla, chairman said: “Lead prices have moderated to around $2000 levels. While the expectation is that the price would hover in the same range for the next quarter, this needs a close watch. The current double digit inflation rate and the resultant pressure on the economy is another key area, we need to be cautious about.”
The newly launched two wheeler batteries Amaron Pro Bike Rider TM with breakthrough VRLA technology have received good response from the market. The pan-India retail network of 120 Pitstops, 400 Powerzones and 18000 retailers serviced by 175 franchised distributors is in line with company’s distribution expansion plans.
For the full year period ending March 2008, ARBL had recorded 81% growth in net revenues at Rs11089.36 million. PBT shot up by 105% to Rs1459.38 million and PAT 100% to Rs943.63 million during the same period. The company had announced 35% dividend and recommended bonus shares in the ratio of 1:2.
Suresh K, financial controller, said that the bottom line was impacted due to foreign currency loan translation loss on account of rupee depreciation against USD amounting to Rs91 million as per the requirement of Accounting Standard 11. The Company’s fund mobilisation for capex is on track with its stable rating outlook by CRISIL both for its short term and long term borrowings.
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First Published: Mon, Jul 28 2008. 03 22 PM IST