Atul Auto registers 120% rise in Q3 PAT

Rajkot-based three-wheeler major Atul Auto Limited has registered net profits of Rs 2.50 crore for the third quarter ended December 2010 against Rs 1.12 crore in the corresponding period last year, showing a growth of more than 120 per cent.

The company has sold 4813 units of three wheeler vehicles during October to November, 2010 against 3375 units sold during the same period last year. Company's gross sales went up to Rs 56 crore for the quarter from Rs 35 crore recorded last year.

Vijay Kedia, director, Atul Auto Ltd said,”The company has performed very well towards the target, which we had set in the beginning of the year. We had set a growth target of 50 per cent for 2010- 2011 over previous financial year. Going by the third quarter performance, the target of achieving total sales of Rs 180 crore during the current financial year looks certain.” Kedia further added, “Three wheelers demand in India is increasing by 17 to 18 per cent every year and the company is also taking benefits of it. We are expanding our dealer network across the country.”

 

Atul Auto is one of the leading auto players in Gujarat and key player in the field of three-wheeler vehicle manufacturing. The company has a manufacturing facility located at Rajkot with a total installed capacity of 24,000 vehicles annually. Atul makes diesel as well as CNG variants of three wheeled micro commercial vehicles. The company also has a full-fledged R&D center at Pune in the state of Maharashtra.