ACGL reports net profit in Q3
Overall sales grew 129 percent in the quarter
The Automobile Corporation of Goa Ltd (ACGL) reported a net profit of Rs 3.41 crore in Q3FY2022 as against Rs 0.35 crore loss in Q3 FY2021, apparently on back of improving demand from the bus segment. The company's net profit was Rs 1.55 crore during Q2 FY2022.
The company’s overall sales grew by about 129 percent to Rs 76 crore during the same period in comparison to Rs 33 crore in Q3FY2021 and Rs 55 crore during Q2FY2022, the company said in a regulatory filing. Tata Motors and group companies holds 49.77% stakes in it. The company is engaged in the business of manufacturing pressed parts, components, sub-assemblies and assemblies for various ranges of automobiles and bus bodies with component parts for which Tata Motors is its single largest customer contributing around 88 percent of the total basic sales.
RELATED ARTICLES
Vida VX2 Go Compared: How It Stacks Up on Price, Range & Charging Time
The entry-level VX2 Go is a direct rival to the Bajaj Chetak 3001 and the TVS iQube 2.2.
Qualcomm to Host 'Snapdragon Auto Day' on July 30 in New Delhi
The event, held in collaboration with AWS, will bring together industry leaders to explore connected vehicle technologie...
TVS Motor Company Launches New 3.1 kWh Variant of TVS iQube at ₹1.03 Lakh
The new model strengthens TVS Motor’s electric vehicle (EV) portfolio, which now comprises six variants.