reported a net profit of Rs 21.4 crore on a total income from operations (net) of Rs 389 crore as compared to a net profit of Rs 4.1 crore on a total income from operations (net) of Rs.259 crore in the corresponding quarter last year.
14 Aug 2014 | 4429 Views | By Autocar Pro News Desk
JBM Auto,one of the flagship companies of the $1.2 billion JBM Group, has for Q1 FY2014-15 reported a net profit of Rs 21.4 crore on a total income from operations (net) of Rs 389 crore as compared to a net profit of Rs 4.1 crore on a total ...
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JBM Auto, one of the flagship companies of the $1.2 billion JBM Group, has for Q1 FY2014-15 reported a net profit of Rs 21.4 crore on a total income from operations (net) of Rs 389 crore as compared to a net profit of Rs 4.1 crore on a total income from operations (net) of Rs.259 crore in the corresponding quarter last year. JBM Auto is engaged in the manufacture of sheet metal components, assemblies, sub- assemblies, tools, dies and moulds
The company registered a PBT of Rs 36.2 crore compared to Rs 11.0 crore (229% growth) and EBIDTA of Rs 44.8 crore compared to Rs 20.7 crore (116% growth) in the same quarter last year.
Commenting on the quarterly performance, Nishant Arya, executive director, JBM Group, said, “The automobile industry has already started showing positive sentiments and is coming back on track, which can be mainly attributed to a stable government and the forward-looking policies announced. We have been focusing towards enhancing the utilisation of existing assets to increase the efficiency, automation for further improvement of quality and value engineering activities. Going ahead, we anticipate that sales numbers shall improve in the coming quarters thereby improving our performance and profitability further.”
JBM Auto has already invested Rs 100 crore to set up a new plant in Indore which will manufacture chassis parts and exhaust systems for Volvo Eicher and Mahindra & Mahindra. JBM Group has announced an investment of Rs 700 crore in the automobile component business over this year as part of the plan to increase its annual revenues from Rs 7,000 crore to Rs 10,000 crore.
“The commissioning of our assembly line for buses in Kosi Kalan has already been done and production will be in full swing from September 2014 onwards. We look forward to closing forthcoming orders in the coming months,” concluded Arya.