Amara Raja Batteries today reported 22.73 per cent increase in net profit for the third quarter ended December 31, 2012 at Rs 80.91 crore.
The company had posted a net profit of Rs 65.92 crore in the same period last fiscal, Amara Raja Batteries said in a filing to the BSE.
Net sales during the quarter under review stood at Rs 756.87 crore as against Rs 612.39 crore in the year-ago period, it added.
Commenting on the performance, Amara Raja Batteries Managing Director Jayadev Galla said the company has been able to grow in double digits both in top-line and bottom-line despite slack demand from OE customers in automotive segment, supply challenges for want of capacities in all product lines except two-wheeler batteries, and cost escalations.
"The company is keeping a close watch on cost increases due to power shortage, power tariff hike, rising commodity and fuel prices, and volatility in currency markets," he said, adding the company was confident of its growth prospects and continued to invest on capacities and products to support market leading growth in the medium and long term.
Commenting on the future plans, company Executive Director Ravi Bhamidipati said to capitalise on the growth opportunities Amara Raja Batteries has decided to invest Rs 440 crore to augment capacities of different battery types over a period of 16 to 18 months.
This investment is in addition to already approved capital investment of Rs 304 crore, he added.
Shares of Amara Raja Batteries settled at Rs 301.50 per share, up 1.07 per cent from the previous close on the BSE.