Atul Auto surges as Q4 PAT grows to Rs 8.63 crore

MUMBAI: Atul Auto, maker of three-wheeler commercial vehicles, ended the day up ended the day up 5.68% at Rs 453.70, after rallying over 8 per cent intraday as the company reported rise in quarterly net profit despite slowdown in economy.

The company reported a net profit of Rs 8.63 crore in quarter ended March 2015, up 2.37 per cent, as compared to a net profit of Rs 8.43 crore, in the corresponding quarter last fiscal.

Total income from operations increased to Rs 122 crore as compared to Rs 112 crore, in year-ago quarter.

The board of directors has recommended final dividend of Rs 2.50 per equity share of Rs each whereby making total dividend for FY 2014-15 to Rs 5 per equity share of Rs 5.

Jitendra Adhia, VP Finance, Atul Auto in an interview to ET Now said the company expects to see growth in margins going ahead. He sees exports to be exciting for the company in FY16.

Atul Auto has started ground work at new plant which will be commissioned post FY17.