The Rajkot-based three-wheeler (autorickshaw) manufacturer, Atul Auto has recorded the highest ever sales of 10,764 units in third quarter ending December 31, 2013 in comparison with the sales of 9,173 vehicles in the year ago period. It is noteworthy that the three-wheeler major has created a record performance, when the automobile industry is passing through the decade’s worst slowdown.
Atul Auto has also logged a turnover of Rs 122.80 crore during the period under review in contrast with the turnover of Rs 103.31 crore in the third quarter of the previous year.
The company also registered EBITDA of Rs 158.3 crore as against Rs 131.5 crore clocked in the previous period of the same quarter. What is more, Atul Auto has earned the highest ever profit before tax of Rs 144.2 crore versus Rs 119.4 crore in the year ago period.
The firm also posted a profit after tax of Rs 96.6 crore in Q3 2013 as against Rs 82.8 crore in the corresponding period of the previous year, up 17 percent.
Commenting on the performance, Niraj J Chandra, Executive Director, Atul Auto said: “In the third quarter of 2013, we were able to achieve the numbers as per our forecast. In fact, we are growing continously at a modest rate despite the challenging environment persisting in the auto industry. In this quarter we have broken our own records instituted in the Q3 of the previous year. We are breaking our own records to outstrip our yesterday by our today”.
The News Hour India by Kenath Jayashankar Menon 