Atul Auto Q1 FY 11 net profit rises to Rs 2.10-cr

MUMBAI: Three-wheeler manufacturer, Atul Auto, posted a healthy rise in its net profit at Rs 2.10-crore for the quarter ended June 30, as against Rs 10-lakh in the corresponding period last year.

"We see great a market potential for our vehicles in the SME sector and large industries. To cater to the growing demand, especially in the semi-urban and rural markets, we are planning to increase our production by 48,000 units annually," Atul Auto's Director, Vijay Kedia, said.

Its present production stands at 24,000 units. Subject to approval at the ensuing annual general meeting, Atul Auto proposes a final dividend of Rs 2 per share as compared to 50 paise last year, the company said in a statement.