 "Jupiter Wagons Q2 results: Net profit rises 8.9% to Rs 89.36 crore")
Jupiter Wagons Limited on Friday reported an 8.9 per cent increase in consolidated net profit to Rs 89.36 crore for the second quarter ended September 2024.
The company had posted a consolidated net profit of Rs 82.08 crore in the same quarter of the last fiscal, Jupiter Wagons said in a regulatory filing.
Its consolidated income stood at Rs 1,018.75 crore compared to Rs 885 crore in the year-ago period, it added.
The order book of the company as of September 30, 2024, stands at Rs 6,64,366 lakh.
Managing Director of Jupiter Wagons Vivek Lohia, said, "We have rebranded our subsidiary, Bonatrans India Private Limited to Jupiter Tatravagonka Rail Wheel Factory Private Limited even as we unveiled plans to increase capacity for wheelsets manifold through investment of Rs 2,500 crore in a new facility on Odisha".
On July 12, 2024, Jupiter Wagons successfully completed a Qualified Institutional Placement (QIP), raising Rs 800 crore.
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The capital raised will be primarily used to establish a full wheel and axle manufacturing plant, enhancing our pipeline integration and supporting long-term growth, the company said.
JWL is a provider of mobility solutions, with diverse offerings across Freight Wagons, Locomotives, Passenger Coach Accessories, Braking Systems, Commercial Vehicles, ISO Marine Containers, and products like Couplers, Draft Gears, Bogies, CMS Crossings, Brake Disc, Brake Systems, Wheels, Axles and Wheelsets.