Atul Auto gains on 33% rise in August sales figures

Sales for Atul Auto were up 33.85 percent year-on-year (YoY) at 2,610 units in August, as against 1,950 units sold in the year-ago period

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Shares of Atul Auto gained 1.2 percent in intraday trade, after the three-wheeler maker announced a 33 percent jump in its sales figures for August.

Sales for Atul Auto were up 33.85 percent year-on-year (YoY) at 2,610 units in August, as against 1,950 units sold in the year-ago period.

The stock was up 1.02 percent at Rs 597.50 at 2.58 pm on the NSE.

The stock has run up 22 percent in the last five days. However, there is no specific reason behind the same. “The movement in the price is purely due to market conditions and absolutely market driven,” Atul Auto clarified the exchanges in an exchange filing dated August 31.

Atul Auto shares have given 103 percent returns since January 1 and 206 percent returns in the last one year.

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The company’s net profit fell 37 percent YoY to Rs 103 crore in the April-to-June quarter. Revenue for the company fell 19 percent YoY to Rs 1182 crore in the same period.

Atul Auto manufactures and sells three-wheeled commercial automobiles in the domestic and overseas markets. The product portfolio of the company includes Atul Shakti, Atul Gem, Atul Smart, Atul Gemini, Atul RIK, and Atul Elite. Atul Auto has a complete range of 3-Wheeler products across the fuel range- Diesel, Petrol, CNG, LPG and Electric.

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