JBM Auto Q1 profit up 5% to Rs 19.45 cr

JBM Auto on Monday reported 5 per cent increase in consolidated net profit to Rs 19.45 crore for first quarter ended June 30, 2017-18.

The company had posted consolidated net profit of Rs 18.51 crore in the same quarter last fiscal, JBM Auto said in a BSE filing.

The company's consolidated revenue from operations was Rs 430.62 crore in the April-June quarter of the current fiscal as against Rs 405.21 crore in the same quarter last fiscal, a growth of 6.27 per cent.

The board of directors of the company at its meeting held today also approved appointment of Pravin Tripathi as an independent director with immediate effect, it added.

Auto component division clocked revenue of Rs 416.57 crore as against Rs 349.59 crore in the year-ago quarter, up 19.16 per cent.

The bus division saw revenue dipped by 95 per cent to Rs 2.17 crore as against Rs 44.04 crore in the same quarter last fiscal, it said.

Shares of JBM Auto ended the day at Rs 421 apiece, up 3.87 per cent from the previous close on BSE.