Jupiter Wagons Posts Rising Profit with Ambitious Expansion Plans

Jupiter Wagons Limited announced an 8.9% increase in net profit for Q2 2024, with plans to expand capacity in Odisha. The company completed a QIP for Rs 800 crore, targeting growth in wheel and axle manufacturing. Its income rose to Rs 1,018.75 crore, and its order book stands at significant levels.

In a significant financial development, Jupiter Wagons Limited has reported an 8.9% increase in its consolidated net profit for the second quarter ending September 2024, reaching Rs 89.36 crore compared to Rs 82.08 crore during the same period last year.

The company's consolidated income surged to Rs 1,018.75 crore from Rs 885 crore, indicating a robust fiscal performance. As of September 30, 2024, the firm's order book is valued at Rs 6,64,366 lakh.

Managing Director Vivek Lohia announced rebranding efforts and plans to significantly boost production capacity in Odisha through a Rs 2,500 crore investment. In July, the company raised Rs 800 crore via a Qualified Institutional Placement to support long-term expansion.

(With inputs from agencies.)