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Amtek Auto reports marginal drop in Q1 net profit

12 Nov 2011 Evaluate

Amtek Auto has reported results for the first quarter ended September 30, 2011.

The company’s net profit for the quarter has declined marginally by 3.41% at Rs 52.69 crore as compared to Rs 54.55 crore for the corresponding quarter of the previous year. The company’s total income has increased by 27.81% at Rs 569.70 crore for the quarter under review from Rs 445.75 crore for the corresponding quarter of the previous year.

Amtek is one of the largest suppliers of automotive components to auto companies such as Tata Motors, Maruti Suzuki and Hyundai. It is also the first automotive component maker to foray into vehicle manufacturing. Amtek operates 43 manufacturing facilities in India and abroad. The project is expected to start with the medical vehicle segment and will have high localization.

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