Amara Raja Batteries plunges nearly 10% on disappointing Q4

By Religare
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    Shares of Amara Raja Batteries fell nearly 10 per cent in early trade on Bombay Stock Exchange (BSE) on reporting disappoint fourth quarter earnings number.

    The company has posted a marginal 2.2 per cent year-on-year (yoy) rise in net profit at Rs 59.60 crore for the quarter ended March 31, 2013 (Q4), due to higher depreciation and amortization expenses.

    Weighed down by earnings, shares of company declined as much as 9.86 per cent to trade at Rs 252.30 a piece on the BSE.

     

    In a similar fashion, shares of the company were locked in lower circuit at Rs 258.75 a piece, down 7.52 per cent on the National Stock Exchange (NSE).

    Meanwhile, the broader benchmark Sensex was quoting at 19,684.03, down 7.64 points or 0.04 per cent at 9:40 hours.

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