Atul Auto profits up by 23 percent in second quarter of current fiscal

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Added in: Atul Auto

Mr. Niraj Chandra -Director - Atul Auto Ltd. (2)

Atul Auto Ltd. a three wheeler manufacturer today, announced Financial Results for its second quarter of fiscal 2013-2014. For the Second quarter of current fiscal, Atul Auto reported 9576 units sales, which is the highest ever vehicle sales in any single quarter in company history. Atul Auto has declared the Interim Dividend @ Rs. 4 (40%) per equity share which is also one of the biggest reward for their shareholders. In the second quarter, the company reported highest turnover of Rs. 10,872 lacs which is again highest ever turnover in single quarter and booked net profit of Rs 1,170 lacs in the first half of this fiscal year.

Commenting on these excellent results, Mr. Niraj Chandra, Whole-time Director, Atul Auto Ltd said, “Our recurring financial gains are evidence to the success of our business model. Despite a difficult economic environment, Atul Auto continues to thrive making considerable sales in this quarter. In addition to improving our market share from 5.70% (FY 13) to 7.06 % in the first half of this financial year, we are delighted with positive customer feedback to our new model Atul Gemini DZ which we launched recently in Kerala. We have added several new members in our marketing and operational team, comprised of highly experienced and operational experts, who we believe would assist in delivering the leadership necessary to take us to the next level. At the same time we are concentrating on increasing Atul Auto sales & Services centres across the country, and I am confident that the company will be well positioned to achieve desired expansion plan in near future.”