JBM Auto Q1 net profit up 18% at Rs 30.17 crore

JBM Auto, a manufacturer of buses, spare parts, accessories, and sheet metals, reported an 18.2% increase in its net profit to Rs 30.17 crore in the April-June quarter, as compared to Rs 25.53 crore in Q1 FY23.

During the quarter under review, the company's sales including other operating income, stood at Rs 946.22 crore compared to Rs 865.03 crore in Q1 FY23, an increase of 9.39%.

EBIDTA increased by 35.34% at Rs 119.28 crore in Q1 FY24 compared to Rs 88.13 crore in Q1 FY23. Earnings per share (EPS) for Q1 FY24 stood at Rs 2.56, compared to Rs 2.18 in Q1 FY23. 

During the June quarter, the company commenced commercial operations at its new electric bus manufacturing plant situated in Haryana. This is among the largest dedicated integrated Electric bus facilities (except China), spread over a 4 million square foot area.

This new e-bus manufacturing facility showcases state-of-the art innovation centres and test labs, with new-age materials, science, and technologies, integrated electronics manufacturing, and a vendor park. This initiative from JBM Auto is aptly aligned to its vision of making India the EV capital of the world.

According to JBM Auto, strong order book in OEM division and toolroom division will contribute to continuing the impetus growth of the company in FY24.