For the full year, Atul Auto reported a higher net profit on increase in vehicle sales and higher revenues
Atul Auto Ltd (Atul Auto), the Gujarat based three-wheeler manufacturer, reported a higher full year net profit driven by sales growth.
For the 12 month to end-March, Atul Auto said its net profit increased 15% to Rs29.80 crore from Rs25.93 crore while its total revenues, including sales, grew 18% to Rs430.14 crore from Rs363.84 crore, a year ago period.
During the full year, Atul Auto said it sold 5,517 (17%) more units of vehicles at 37,557 from 32,040 units, a year ago.
During FY14, Atul Auto said its expenses increased 19% to Rs389.86 crore from Rs328.19 crore a year ago period, It paid taxes of Rs12.95 crore, a 15% more from Rs11.30 crore a year ago period.
As on 31 March 2014, FIIs shareholding in the company grew to 1.46% from 0.11%, public shareholding grew to 43.47% from 43.27% and promoter shareholding fell to 55.07% from 56.62% compared with a year ago period. However domestic institutional investors (DIIs) are not holding any stake in Atul Auto.
For the quarter to end-March, Atul Auto said its net profit grew 12% to Rs8.45 crore from Rs7.55 crore while its total revenues, including sales, grew 17% to Rs112.59 crore from Rs96.08 crore, same period last year.
Atul Auto's reserves and surplus increased 32% to Rs83.27 crore from Rs63.10 crore a year ago period.
Atul Auto declared a final dividend of Rs3.5 per share.
Atul Auto closed Tuesday 3.8% down at Rs373 on the BSE, while the S&P BSE Sensex ended the day marginally up at 24,470.