Atul Auto FY'14 Net up 15 pc on higher demand

Three-wheeler maker Atul Auto today reported a 15 per cent jump in net profit at 29.79 crore in the full fiscal ending March 31, 2014 on the back of higher demand for its vehicles.
The Rajkot-based company had posted Rs 25.92 crore profit in FY'13, Atul Auto said in a release here.
The revenue from sales also surged by 18.30 per cent to Rs 429.26 crore in the reporting period as against a net sales of Rs 362.86 crore a year-ago, the company said.
The company during this period sold 17 per cent more vehicles at 37,557 units as compared to 32,040 vehicles sold in financial year ending March 2013, the release said.

Commenting on the company's financials in the previous fiscal, Atul Auto Ltd Whole-time Director Niraj J Chandra said, "The company could achieve expected numbers both in terms of net profit and net sales in the just-concluded fiscal. The company is continuously growing at modest rate despite challenging environment in auto industry."
"Going by the financial performance we can say that the company has been rising with every challenge," he said.

The operating EBITDA (earnings before interest, taxes, depreciation and amortization) grew by 14.86 per cent to Rs 48.31 crore for FY 14 from Rs 42.06 crore in FY 2012-13.
The company's overall all market share in the domestic three-wheeler industry grew to 7.71 per cent in FY 2013-14 from 5.91 per cent in FY 13.

According to the company, while its domestic market share in passenger three wheeler segment grew to 5.49 per cent during the year from 3.86 per cent in FY 13, the same for cargo segment increased to 16.74 per cent in the last fiscal as against 15.17 per cent in FY 2012-13.