Atul Auto Q4 net profit more than doubles to ₹15 crore; declares ₹3 dividend

Three-wheeler maker Atul Auto Ltd on Saturday (May 16) reported a 106.9% year-on-year jump in net profit for the fourth quarter at ₹14.8 crore, compared with ₹7.2 crore in the corresponding quarter last year.Revenue for the quarter rose 14% year-on-year to ₹240.6 crore from ₹211 crore, while EBITDA increased 80.7% to ₹27.3 crore from ₹15.1 crore in the year-ago period. EBITDA margin expanded to 11.4% from 7.2% in the corresponding quarter last year.

The company recommended a final dividend of ₹3.00 per equity share of ₹5 each, subject to shareholder approval. Atul Auto has a presence across 25 states with more than 300 sales networks, and it exports to over 20 countries.
Also Read: Atul Auto’s November 3-wheeler sales rise 20% on strong IC engine demandLast month, Atul Auto said it had inked a memorandum of understanding (MoU) with Exponent Energy Pvt. Ltd. to manufacture and supply 15,000 electric three-wheelers integrated with the latter’s battery system and powertrain.

The size of the contract is ₹490.5 crore, with the Exponent Enabled Vehicles coming at a price of around ₹3.27 lakh per unit. This contract will be executed over a three-year period, extendable by an additional grace period of six months, from the date of state transport authority approvals, the company said.

Shares of Atul Auto Ltd ended at ₹515.40, up by ₹25.45, or 5.19%, on the BSE.

Also Read: Atul Auto Q2 Results: Stock jumps 9% after strong operating performance, revenue growth