JBM Auto on Wednesday said its consolidated net profit increased 8 per cent to Rs 52 crore in the December quarter. The company had recorded a net profit of Rs 49 crore in the year-ago period, JBM Auto said in a statement. Sales, including other operating income, stood at Rs 1,396 crore in the third quarter of the current fiscal year, up 4 per cent compared to Rs 1,346 crore a year ago. The company said its board of directors in a meeting on October 28 last year, recommended the sub-division of existing equity share having a face value of Rs 2 each into equities with face value of Rs 1 each. This sub-division has been approved by the company's shareholders. Shares of the company on Wednesday ended 2.7 per cent up at Rs 1,401.05 apiece on the BSE.
The uptick in the JBM Auto share price came after the company announced that it has secured an order for 343 electric buses for Ahmedabad BRTS, Ahmedabad Municipal Transport Service, worth Rs 1,800 cr
Automotive and EV firm JBM Auto Ltd on Monday reported an 11.45 per cent growth in net profit to Rs 49.15 crore in the September quarter over the same quarter last year. The company had posted a net profit of Rs 44.10 crore in the July-September period of FY 24. Net sales, including other operating income for the second quarter stood at Rs 1,285.98 crore compared to Rs 1,231 crore in Q2FY24, a year-on-year increase of 4.47 per cent, the company said. EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 18.54 per cent at Rs 174.81 crore for the September quarter against Rs 147.47 crore in the corresponding quarter of Fy 24, JBM Auto said. The company said it delivered the highest ever Q2 sale in OEM business, adding that it also saw strong order book in OEM division and tool room division which will contribute in continuing the impetus growth of the company in FY25.
JBM currently operates over 1,500 electric buses across 10 states and more than 15 major airports in India
The rise in JBM Auto share price came after its subsidiary JBM Electric Vehicles inked a pact with LeafyBus to supply 200 electric intercity luxury buses.