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JBM Auto reports 33% rise in Q3 profit at Rs 22 crore

The company had posted a consolidated profit after tax of Rs 16.45 crore in the same quarter last fiscal, JBM Auto said in a regulatory filing.

February 09, 2021 / 07:03 PM IST
 
 
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JBM Auto on Tuesday reported 33 percent increase in consolidated profit after tax at Rs 21.96 crore in the third quarter ended December 21, 2020.

The company had posted a consolidated profit after tax of Rs 16.45 crore in the same quarter last fiscal, JBM Auto said in a regulatory filing.

Consolidated revenue from operations stood at Rs 590.73 crore as against Rs 467.04 crore in the corresponding period last year, it added.

During the period under review, the components division posted revenue of Rs 402.12 crore as compared to Rs 333.94 crore in the same quarter last fiscal.

The original equipment manufacturing (OEM) business clocked revenue of Rs 122.71 crore as compared to 73.9 crore in the corresponding period last fiscal, it added.

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JBM Auto said in the third quarter it bagged orders for 700 BS-VI CNG low floor AC buses order received which are to be delivered in the first half of 2021-22.

The company also said it acquired controlling interest in its joint venture Indo Tooling Private Limited (ITPL) on October 9, 2020 after which the company holds 100 per cent stake in ITPL.

"This will increase the top line of the company and will integrate the tooling business,” it added.

JBM Auto has also incorporated a wholly owned subsidiary company JBM ECOLIFE Mobility Pvt Ltd.

”The subsidiary company will leverage the growth opportunities in the evolving E-Mobility/Electric vehicles segment including e-buses,” it said.
PTI
first published: Feb 9, 2021 07:03 pm

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