Rajkot-based Atul Auto Ltd on Tuesday reported an increase of 65 per cent in net profit and 48 per cent in revenues in the financial year ended March 31, 2012, compared to the corresponding period in the previous fiscal.
The company attributed its performance to increased sale of vehicles in rural and semi-urban markets.
While the revenues were Rs 298.29 crore (Rs 201.58 crore), the net profit was Rs 15.59 crore (Rs 9.44 crore), according to a company statement here.
On Tuesday, the company’s share price on the BSE closed at Rs 153, up 1.19 per cent.
In FY12, Atul Auto sold 27,000 vehicles against 19,400 in FY11, Mr Vijay Kedia, Director, said. “We have grown substantially higher than the industry that showed a degrowth of 5 per cent.”
Atul Auto, a zero-debt company, also declared the highest-ever dividend of 50 per cent, that also on an increased capital after the rights issue last year, when the dividend was 40 per cent.
It rewarded its shareholders with bonus shares in the ratio of one equity share for every two shares held in the company.