Net profit of Automotive Axles rose 58.22% to Rs 28.29 crore in the quarter ended March 2018 as against Rs 17.88 crore during the previous quarter ended March 2017. Sales rose 30.63% to Rs 469.07 crore in the quarter ended March 2018 as against Rs 359.08 crore during the previous quarter ended March 2017.

For the full year,net profit rose 69.83% to Rs 83.93 crore in the year ended March 2018 as against Rs 49.42 crore during the previous year ended March 2017. Sales rose 29.60% to Rs 1519.37 crore in the year ended March 2018 as against Rs 1172.31 crore during the previous year ended March 2017.

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Automotive Axles announced that the Board of Directors of the Company at its meeting held on 8 May 2018, inter alia, have recommended the final dividend of Rs 13.5 per equity Share (i.e. 135%) , subject to the approval of the shareholders.

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The result was announced after market hours yesterday, 8 May 2018.

Meanwhile, the S&P BSE Sensex was up 10.76 points or 0.031% at 35,227.08.

On the BSE, 2,853 shares were traded on the counter so far as against the average daily volumes of 1,740 shares in the past one quarter. The stock had hit a high of Rs 1,683.20 and a low of Rs 1,627 so far during the day. The stock had hit a record high of Rs 1,826.40 on 29 January 2018. The stock had hit a 52-week low of Rs 690 on 12 May 2017.

The board of directors of Automotive Axles approved axle capacity housing line expansion from existing capacity of 16500 to new capacity of 20000 and brakes capacity expansion from existing capacity of 83000 to new capacity of 120000.

Automotive Axles manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes. It provides these products to the major domestic and global manufacturers of trucks & buses.

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Automotive Axles will hold a meeting of the Board of Directors of the Company on 08 May 2018, inter alia, to consider the Audited Financial Results for the Quarter/ Year ended 31st March, 2018, and to consider the recommendation of payment of dividend, if any, for the financial year 2017-18.

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