Atul Auto spurts on fund raising plan

Atul Auto surged 4.02% to Rs 207.15 after the company said its board will consider fund raising on 8 October 2022.

The board of Atul Auto will meet on 8 October 2022 to consider the proposal for raising funds by way of a rights issue, preferential issue including a qualified institutions placement or through any other permissible mode and/or combination thereof as may be considered appropriate, by way of issue of equity shares or any other eligible securities. The proposal is subject to all such regulatory/ statutory approvals as may be required including the approval of shareholders of the company.

Atul offers complete range of 3-wheeler products across the fuel range - diesel, petrol, CNG, LPG and electric.

On a consolidated basis, Atul Auto reported net loss of Rs 3.65 crore in Q1 June 2022 as against net loss of Rs 6.21 crore in Q1 June 2021. Net sales rose 233.24% to Rs 104.57 crore in Q1 June 2022 over Q1 June 2021.

The company's total three-wheelers sales jumped 20.15% year-on-year to 2,254 units in September 2022.

Powered by Capital Market - Live News