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Atul Auto profit beats consensus by 29.5% in fiscal Q1

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Atul Auto profit beats consensus by 29.5% in fiscal Q1

Atul Auto Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 3.83 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.96 rupees per share.

EPS climbed year over year from 1.87 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 84.1 million rupees, an increase from 41.0 million rupees in the prior-year period.

The normalized profit margin rose to 8.4% from 4.8% in the year-earlier period.

Total revenue increased 16.4% year over year to 997.4 million rupees from 857.0 million rupees, and total operating expenses climbed 9.0% from the prior-year period to 861.7 million rupees from 790.9 million rupees.

Reported net income grew year over year to 96.7 million rupees, or 4.41 rupees per share, from 43.2 million rupees, or 1.97 rupees per share.

As of Aug. 4, US$1 was equivalent to 61.01 Indian rupees.