Atul Auto net rises by 23%

Rajot-based three wheeler manufacturer Atul Auto Limited’s net profit surged by 23 per cent to Rs 3.09 crore for the third quarter ended December 2012 as against Rs 2.51 crore in the same quarter last fiscal.

The net profit during the nine month period rose by 56.32 per cent to Rs 11.43 crores from Rs 7.52 crores in the corresponding period in previous financial year, while its total sales grew by 45 per cent.

Three wheeler sales for the third quarter of fiscal 2011-12 stood at 7,166 units as compared to 4,813 vehicles in the same quarter last financial year, which shows a 49 per cent growth in net sales of Atul.

Commenting on the improved financial results for the year, Vijay Kedia, director, Atul Auto Ltd, said, “Based on the performance between April to December 2011, we are confident of achieving the target and the desired growth by the end of this financial year.”

“Our newly launched product is receiving positive response from all over India. We have become aggressive in tandem with the growth in Indian economy and automobile market in general,” he added.