The benchmark 10-year G-sec yield, which sets the tone of the fixed-income market, was on a decline over the last month after it peaked at 8.87% on 23rd September due to the effect of RBI’s mid-quarter credit policy review on 20th September. It hit a low of 8.43% on 10th October and it ended at 8.60% on 21st October. The rupee rallied to a two-month high of 60.92/ US$ on 18th October. It opened at Rs61.71/US$ on 22nd October.
During the September quarter the automaker reported 19% growth in its net profit on increasing sales and new launches in its three-wheeler segment
Atul Auto Ltd, the three-wheeler manufacturer, recorded 19% growth in net profit at Rs73.80 crore in its quarter to end-September compared with Rs62.10 crore a year ago period. Its net sales increased 27% at Rs1,087.20 crore compared with Rs858.40 crore a year ago period.
The automaker said, “The company has achieved highest vehicle sales in any single quarter at 9,576 units with highest ever turnover at Rs1,087.20 crore. Segment-wise company’s goods carrier market stake improved to 16.07%, passenger carrier market stake improved to 5.10%, overall market stake improved to 7.06%, respectively.”
“Atul Auto has defied all market hurdles and is growing consistently. The company launched various variants to its vehicle line, thus by increasing its market share to over 7% from 2% in FY09. Atul Auto has aggressive expansion plans and more variants are to be launched, which will boost the company top line, and being debt free strengthens the bottom-line as well,” said JV Adhia, vice president for finance at Atul Auto.
Atul Auto declared an interim dividend of 40% or Rs4 for FY2014.
On Monday, Atul Auto closed 4% down at Rs234.90 on the BSE, while the benchmark S&P BSE Sensex ended marginally down at 20,570.
Maruti Suzuki's September quarter net profit surged 194.7% to Rs670 crore while sales increased 26.5% to Rs10,211.8 crore
Maruti Suzuki India Ltd, the country's largest carmaker reported a 195% higher net profit during the second quarter on cost reduction and positive impact of forex. Moreover, the company's September quarter results last year were affected due to labour problems at Manesar.
For the quarter to end-September, the company, a unit of Japanese Suzuki Motor Corp, said, its net profit increased to Rs670 crore from Rs227.5 crore while total sales, rose 26.5% to Rs10,211.8 crore from Rs8,070 crore, same period last year.
In a regulatory filing Maruti Suzuki said, "The company's performance during the quarter has to be viewed in the context of unusually low levels of profit in the second quarter of last year owing to labour problems at Manesar. Higher localisation and cost reduction initiatives by the company also contributed significantly to bottom-line growth during Q2. The overall impact of foreign exchange was positive during the quarter."
During the September, the carmaker reported a 19.6% growth in vehicle sales. It sold 2.75 lakh units, including exports, during the second quarter.
Maruti Suzuki closed Monday marginally higher at Rs1.513 on the BSE, while the 30-share benchmark ended marginally down at 20,570.3.