Jupiter Wagons on Monday announced that it has received a contract worth Rs 957 crore from the Ministry of Railways (railway board) for manufacturing and supply of BOSM wagons.
The Railway Ministry had placed an order for the manufacturing and supply of 2,237 BOSM wagons. These wagons are specifically designed for the efficient transport of bulk goods such as coal and ore within the Indian railway network. This initiative is poised to catalyse smoother trade and foster economic growth, said the firm.
The contract, valued at Rs 957 crore, further strengthens the companys position in the market and highlights its capabilities in catering to large-scale projects.
Vivek Lohia, MD, Jupiter Wagons, said, This significant order serves as a reaffirmation of our standing as a reliable partner within the railway industry. This opportunity is a testament to our dedication to supporting the nation's railway modernization endeavours. We eagerly anticipate playing a pivotal role in the realization of the government's visionary goals, leveraging our expertise and resources to contribute meaningfully to the advancement of India's railway infrastructure.
Jupiter Wagons extends its sincere appreciation to the Ministry of Railways for their continued confidence and support. The company remains committed to contributing towards the advancement of India's railway infrastructure and looks forward to delivering value through this partnership, stated in companys press release.
Jupiter Wagons is a leading provider of complete mobility solutions with a diverse product portfolio. Its products include wagons, couplers, draft gears, bogies, crossings, and accessories for various types of coaches and vehicles.
The companys net profit surged 82.7% to Rs 81.45 crore in Q3 FY24 as compared to Rs 44.59 crore recorded in Q3 FY23. Revenue from operations jumped 39% YoY to Rs 895.84 crore in the quarter ended 31 December 2023.
The scrip slipped 4.01% to Rs 348.50 on the BSE.
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