Automotive Axles slides as Q2 PAT drops 20% to Rs 36 cr

Automotive Axles fell 2.04% to Rs 1,806 after the company's standalone net profit declined 20.20% to Rs 35.97 crore on 15.35% decrease in revenue from operations to Rs 494.68 crore in Q2 September 2024 over Q2 September 2023.

Profit before tax (PBT) stood at Rs 48.45 crore in Q2 FY25, down 19.71% YoY for the quarter ended 30 September 2024.

Total expenses fell 14.31% to Rs 452.31 crore in the quarter ended 30 September 2024. Cost of materials consumed was at Rs 371.90 crore (down 10.38% YoY) and employee expense was at Rs 34.29 crore (up 3.65%) during the quarter.

On half year basis, the companys net profit declined 15.54% to Rs 70.02 crore on 11.56% fell in revenue f5rom operations to Rs 987.15 crore in H1 FY25 over H1 FY24.

Automotive Axles (AAL) is a joint venture of Kalyani Group and Meritor Inc., USA. With manufacturing facilities located at Mysore (Karnataka), the company is currently the largest independent manufacturer of Rear Drive Axle Assemblies in India. The company has also expanded its footprints in North India with its plants at Pantnagar and Jamshedpur.

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