Autoline Industries jumped 8.40% to Rs 142.65 after the company announced that it has entered into an supply contract with Tata Motors Passenger Vehicle Limited.
The contract involves manufacturing tools & supply of sheet metal parts & assemblies. The company will receive Rs 147 crore annually for supplying parts and a one-time renumeration of Rs 57 crore for tooling.
Autoline Industries is engaged in manufacturing auto components (sheet metal) and is a supplier to original equipment manufacturers (OEMs) and automobile companies.
The company had reported a consolidated net profit of Rs 7.22 crore in Q4 FY24 as against a net loss of Rs 5.61 crore in Q4 FY23. Sales rose 27.35% YoY to Rs 189.42 crore during the period under review.
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