Atlas Battery Posts Rs. 1.4 Billion Profits in FY 16-17

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Atlas Battery Limited informed the Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August 28, 2017.

The maker of Atlas Genzo Shmadzu (AGS) battery range, which is used in automobiles and heavy machinery (earth moving equipment), reported a profit of Rs. 1.476 Billion with earnings per share Rs 84.86 as the base, and diluted up by 16.59% for the fiscal year ended June 30, 2017 as compared to last year’s profit of Rs 1.270 billion with earning per share of Rs 73.04.

Furthermore, about Rs. 35 per share i.e. 350% payment of cash dividend, nil bonus shares and right shares was agreed by Atlas Battery for its investors this year.

At the time of filing of this report Atlas battery scrip gained +2.70% and was last traded at Rs 800 in KSE 100 index while the market was down by -788 points and at the 41857 index level.

Furthermore, the share transfer books of the company will remain closed from September 15th, 2016 to September 29, 2016 (both days inclusive).

About Atlas Battery Limited

Atlas Battery Limited was incorporated as a public limited company on October 19, 1966. The company is engaged in manufacturing and sale of automotive and motorcycle batteries. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.

The company manufactures polypropylene and hard rubber batteries to cater the needs of passenger cars of varied capacities, trucks, tractors, heavy vehicles, construction and road building equipment, as well as host of stationary and industrial applications. Motorcycle batteries have also been added to this range.

Originally Published on ProPakistani.com

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