Atul Auto Q4 results: Net profit rises to ₹4.8 crore, revenue at ₹160.14 crore

Three wheeler company Atul Auto, on Friday, announced its financial results for the quarter ended on March 31, 2024 (Q4 FY24). The company reported  46 per cent year-on-year (YoY) rise its net profit to ₹4.8 crore for the March quarter, versus ₹3.3 crore same period a year ago.

For the year-ended, net profit surged 125 per cent from ₹3.13 crore in Q4 FY23 to ₹7.07 crore in Q4 FY24.

As per the exchange filing, total revenue from operations for Q4 FY24 also rose 6.5 per cent to ₹160.14 crore. Whereas, total income for the March quarter stood at ₹4.9 crore, witnessed a surge of 41 per cent YoY.

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The number of three-wheelers sold in the March quarter stood at 7844 versus 7,730 in the last December quarter (Q3 FY24). The gross sales soared over 8.8 per cent YoY in Q4 FY24 to ₹14.9 crore from ₹13.6 crore last year same period.

The company further announced the resignation of Jayantibhai J Chandra from the post of Chairman and Whole-time Director, with effect from closing of business hours on May 16, 2024.

The board has approved the appointment of Neeraj J Chandra in place of J Chandra and Mahendra J Patel as Key Managerial Personnel for the purpose of determining materiality of an event or information and for the purpose of making disclosures to stock exchange.

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“Considered and Authorized Mr. Neeraj J Chandra (In place of Mr. Jayantibhai J Chandra) and Mr. Mahendra J Patel as Key Managerial Personnel for the purpose of determining materiality of an event or information and for the purpose of making disclosures to stock exchange(s),” the company said in the filing.