India's Automotive Axles revs up on higher profit

Automotive Axles

17/05/2021 06:47

** Motor-vehicle components maker's shares  ATOA.NS  jump as
much as 15.9% to 1,159 rupees - set for biggest one-day
percentage gain since August
    ** Automotive Axles on Friday reported a near fivefold rise
in profit to 265.6 mln rupees ($3.63 mln) for March-quarter
 urn:newsml:reuters.com:*:nBSE9VvZG8
    ** Co's revenue from operations more than doubled to 4.26
bln rupees
    ** ATOA's board also recommended a dividend of 4.50 rupees
per share for FY2020-21
    ** Including session's gains, ATOA stock has erased YTD
losses and is up ~13% for the year


($1 = 73.2440 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))