Autoline Industries Posts Improved Financial Performance in Q3 FY24

Autoline Industries, a prominent player in the automotive sector, has announced its standalone financial results for the third quarter ended FY24, showcasing significant improvements in key financial metrics.

Revenue Growth:

Revenues from Operations: Autoline Industries reported revenues of ₹152.82 crores for Q3 FY24, representing a marginal increase of 1% compared to ₹151.40 crores in Q3 FY23. However, there has been a decline of 7% in revenues for the nine months ended FY24, amounting to ₹461.83 crores, down from ₹497.64 crores in the same period last year.

Enhanced Operational Performance:

EBITDA: The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) witnessed a notable growth of 14%, reaching ₹12.25 crores in Q3 FY24 compared to ₹10.74 crores in Q3 FY23. Similarly, for the nine-month period, EBITDA stood at ₹34.56 crores, reflecting an 18% increase from ₹29.11 crores in the corresponding period last year.

EBITDA Margin: Autoline Industries demonstrated improved operational efficiency, with the EBITDA margin expanding to 8.02% in Q3 FY24 from 7.10% in Q3 FY23, representing a 92 basis points (BPS) increase. Similarly, for the nine months ended FY24, the EBITDA margin stood at 7.48%, up from 5.85% in the previous year, reflecting a 163 BPS improvement.

Profitability:

Profit After Tax (PAT): The company reported a significant surge in PAT before exceptional income, reaching ₹4.83 crores in Q3 FY24, marking an 86% increase from ₹2.06 crores in Q3 FY23. However, for the nine months ended FY24, the PAT margin improved to 2.4% from a mere 0.002% in the corresponding period last year, reflecting a substantial improvement in profitability.

Despite the challenging business environment and headwinds faced by the automotive sector, Autoline Industries has demonstrated resilience and agility in adapting to market dynamics. The company's focus on enhancing operational efficiency and optimizing costs has yielded positive results, as evident from the improved financial performance in Q3 FY24.

Shares of Autoline Industries Limited was last trading in BSE at Rs. 132.25 as compared to the previous close of Rs. 130.10. The total number of shares traded during the day was 9531 in over 452 trades.

The stock hit an intraday high of Rs. 134.10 and intraday low of 126.00. The net turnover during the day was Rs. 1244677.00.

Source : Equity Bulls

Keywords

AutolineIndustries INE718H01014 Q3FY24 9MFY24 ResultUpdate