May 14, 2012: Three-wheeler manufacturer Atul Auto has announced a 65 percent increase in net profit in 2011-12 (Rs 1.6 crore as against Rs 944 lakh in 2010-11). The company, which sold 27,000 vehicles in the last fiscal year, says the growth is a result of its demand for its vehicles in rural and semi-rural India and improving vehicle quality of vehicle life.
Commenting on the upward growth trend, Vijay Kedia, director of Atul Auto (pictured), said: “We have grown substantially higher than the industry which recorded a de- growth of -2.43 percent in the last fiscal. All our brands have been doing well and we are looking forward to new targets and alliances in the overall automobile segments.”
Atul Auto, which has its manufacturing facility at Rajkot in Gujarat, makes the front-engined Atul Shakti and the rear-engined Atul Gem three-wheelers. It offers variants as passenger and goods carriers and also special purpose vehicles. The company says it currently has over 250,000 of its vehicles on Indian and foreign roads.