510% dividend stock: Amara Raja Energy shares slip 4% on mixed Q4 performance

Amara Raja Energy share price BSE today, Amara Raja Energy dividend: Shares of Amara Raja Energy and Mobility Ltd (ARE&M) slipped over four per cent on D-Street, a day after the firm reported a mixed Q4 performance. The stock fell as much as 4.29 per cent to the day's low of Rs 1,192.95 on BSE in early morning deals. The counter closed at Rs 1,221.7, down 1.99 per cent on BSE.

Amara Raja Energy Q4 results

Amara Raja Energy and Mobility posted a 62 per cent growth in profit after tax (PAT) to Rs 228.03 crore in the March quarter. The company -- earlier known as Amara Raja Batteries -- posted a profit of Rs 140.98 crore in the year-ago period, according to an exchange filing.

Revenue from operations during the quarter under review increased 15 per cent to Rs 2,796.73 crore from Rs 2,433.01 crore a year earlier, the company said in a statement.

For 2023-24, PAT stood at Rs 905.86 crore while revenue from operations was Rs 11,260.30 crore, the company said.

Amara Raja Energy & Mobility Ltd recorded a revenue growth in FY24 with both lead acid battery business and new energy business growing substantially, the company said.

Management Commentary

"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," Chairman & Managing Director Jayadev Galla said.

"We observed robust and sustained growth in both industrial and automotive applications, that resulted in overall revenue growth of 10 per cent. This was accomplished in part by launching new product ranges and brands in the automotive aftermarket and data centre segments," said Harshavardhana Gourineni, Executive Director for automotive and industrial batteries.

In the last FY, the company strengthened its global presence by entering the North American and European markets, placing its products in over 50 countries, he added.

Amara Raja Energy dividend 2024

Amara Raja Energy has approved a final dividend of Rs 5.1 per share of face value of Re 1, i.e., a 510 per cent payout.

(With PTI inputs)

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