Driven by growth in sales, three-wheeler manufacturer Atul Auto has posted a 14.93 per cent rise in net profit of Rs 29.79 crore for the financial year ended March 31, 2014. The company had posted a net profit of Rs 25.92 crore in the previous financial year.
The profit comes at a time when the industry is going through a challenging phase, the company said in a statement.
The company sold 37,557 vehicles during the year under review, posting a 17.22 per cent growth, compared with 32,040 vehicles in FY'13. Its sales revenue rose 18.30 per cent to Rs 429.26 crore (Rs 362.86 crore in FY'13), it said in a statement.