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JBM Auto Q2 Net Profit Jumps 6% To R

New Delhi: Components maker JBM Auto on Monday posted 6.25 per cent rise in net profit at Rs. 19.03 crore for the second quarter ended September 30, 2016-17.

It had posted a net profit of Rs. 17.91 crore for the same period of last fiscal.

Net sales of the company rose to Rs. 451.78 crore for the second quarter, as compared to Rs. 413.77 crore during the same period of previous fiscal, JBM Auto said in a statement.

“The second quarter has shown improved numbers due to the positivity in the market with an upsurge in demand for both passenger cars and commercial vehicles,” JBM Auto Executive Director Nishant Arya said.

The company has a pipeline of orders for next two quarters and there is a latent earning from bus division that will show up in the books in third quarter, he added.

In a filing to BSE, the company said its board considered various fund raising options and approved the enabling resolution for the purpose of raising of funds for an amount not exceeding Rs. 500 crore subject to approval of the shareholders of the company.

PTI