Technology

In Q3FY2019, on standalone basis, revenue of Automotive Axles Ltd. (AAL) was up 19% yoy at `486cr despite the slowdown in commercial vehicles during the quarter. However, on qoq basis, revenue was lower by 3%. OPM improved by 63bps yoy to 11.45% on account of better utilization, EBIDTA was higher 26% yoy to `56cr as compared to `44cr in Q3FY2018. Profit for Q3FY2019 increased to `30cr on the back of stable depreciation cost, which aid PAT growth of 43% to `30cr yoy basis. All in all, for the quarter under review, Automotive Axles has delivered good performance in a tough environment where the sales and production of OEMs has remained flat.

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