Mumbai: Domestic three-wheeler maker Atul Auto on Wednesday reported 18 percent growth in the net profit at Rs 3.87 crore for the first quarter ended June 30 as against Rs 3.29 crore in the same period last year on the back of significant increase in demand.
Net sales also grew 26 percent to Rs 76.79 crore from Rs 60.89 crore in the corresponding quarter last fiscal, the company said in a release here.
The company sold 6,841 units in the April-June quarter of the current fiscal as compared to 5,583 units in Q1FY12, it said.
Commenting on the results, Atul Auto Ltd director Vijay Kedia said, "Looking at the tough economic environment, it is an outstanding performance. The quarter, despite general slowdown in the economy, continued to witness a significant increase in the demand for our products."
The company is optimistic about further growth, he said adding, "We are now focusing on expanding the presence of our offerings pan-India."