JBM Auto Q2 profit rises 9.60% to 44 crore

JBM Auto Ltd, an automotive and EV (Electric Vehicle) company, has reported a 9.60 percent increase in its consolidated net profit for the second quarter of the current fiscal year. The company's consolidated net profit reached Rs 44.10 crore, up from Rs 40.24 crore in the same quarter of the previous fiscal year.

Additionally, the company's net sales for the quarter increased by 19.60 percent, reaching Rs 1,231 crore, compared to Rs 1,029.24 crore in the July-September period of the previous fiscal year. The OEM (Original Equipment Manufacturer) division achieved its highest turnover at Rs 413 crore during the quarter.

JBM Auto also reported that the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the September quarter of the current fiscal year stood at Rs 147.47 crore, marking a 31.32 percent year-on-year growth compared to Rs 112.29 crore in the same quarter of the previous fiscal year.

The company anticipates significant market opportunities following the recent launch of global products at Bus World 2023 in Brussels. Moreover, a strong order book in the OEM and toolroom divisions is expected to contribute to continued growth in the fiscal year 2024.

(With PTI Inputs)