India's Atlas sees flat profit on steel price jump


NEW DELHI, March 17 (Reuters) - Atlas Cycles Ltd, the world's second-largest maker of bicycles, expects a 23 percent rise in sales for the year through March 2004 but a flat profit owing to rising steel prices, a top company official said on Wednesday. Based on the outskirts of Delhi, Atlas Cycles posted revenue of 3.24 billion rupees ($72 million) in the year through March 2003 and a net profit of 70 million rupees. "We're looking at sales of over 4.0 billion rupees in 2003/04," Gautam ...

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