JBM Auto Q1 net profit jumps over 5-fold to Rs 21 crore
JBM Auto today posted over five-fold rise in consolidated net profit at Rs 21.39 crore for the first quarter ended June 30, 2014-15.
By PTI | Updated:
NEW DELHI: Components maker JBM Auto today posted over five-fold rise in consolidated net profit at Rs 21.39 crore for the first quarter ended June 30, 2014-15.
The company had posted net profit of Rs 4.09 crore during the April-June period of the 2013-14 fiscal.
Net sales of the company in Q1, 2014-15 rose to Rs 355.93 crore, as against Rs 231.24 crore in the year-ago period, JBM Auto said in a filing to the BSE.
JBM Group Executive Director Nishant Arya said the automobile industry has started showing positive sentiments and is coming back on track.
"Going ahead, we anticipate that sales numbers shall improve in the coming quarters thereby improving our performance and profitability further," he added.
The company has already invested Rs 100 crore to set up a new manufacturing plant in Indore that will manufacture chassis parts and exhaust systems for Volvo Eicher and M&M,.
The group plans to invest Rs 700 crore in the automobile component business this year as part of the plan to increase its annual revenues from Rs 7,000 crore to Rs 10,000 crore.
JBM Auto shares were trading 4.99 per cent up at Rs 434.10 apiece on the BSE in the afternoon session.
The company had posted net profit of Rs 4.09 crore during the April-June period of the 2013-14 fiscal.
Net sales of the company in Q1, 2014-15 rose to Rs 355.93 crore, as against Rs 231.24 crore in the year-ago period, JBM Auto said in a filing to the BSE.
JBM Group Executive Director Nishant Arya said the automobile industry has started showing positive sentiments and is coming back on track.
"Going ahead, we anticipate that sales numbers shall improve in the coming quarters thereby improving our performance and profitability further," he added.
The company has already invested Rs 100 crore to set up a new manufacturing plant in Indore that will manufacture chassis parts and exhaust systems for Volvo Eicher and M&M,.
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The group plans to invest Rs 700 crore in the automobile component business this year as part of the plan to increase its annual revenues from Rs 7,000 crore to Rs 10,000 crore.
JBM Auto shares were trading 4.99 per cent up at Rs 434.10 apiece on the BSE in the afternoon session.
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