Coronavirus crisis: Amara Raja Group announces pay cut up to 50%

Business Today | Jun 3, 2020 at 1:57 PM
  • Amara Raja Group, the country’s leading business conglomerate, on Wednesday announced reduction in annual remuneration for the current financial year 2020-21 in wake of coronavirus pandemic.
  • Staff in workmen grade and trainees category will be paid the full CTC without reductions.
  • For the financial year 2019-20, Amara Raja Batteries reported a 37 per cent growth in its net profit at Rs 660.82 crore compared to Rs 483.49 crore in FY19, despite market disruptions towards the year-end due to the COVID-19 induced lockdown restrictions.