JBM Auto's Profitable Quarter and Strategic Stock Split
JBM Auto reported an 8% increase in net profit to Rs 52 crore in the December quarter. Sales rose by 4% to Rs 1,396 crore. The company approved a stock split to enhance share accessibility. Shares climbed 2.7% on the BSE, showcasing positive investor sentiment.
![JBM Auto's Profitable Quarter and Strategic Stock Split](https://devdiscourse.blob.core.windows.net/imagegallery/27_06_2019_15_40_08_7202075.png)
- Country:
- India
JBM Auto announced a noteworthy 8% rise in its consolidated net profit, reaching Rs 52 crore for the December quarter. This growth is up from the Rs 49 crore recorded in the same period last year, reflecting robust performance amid a challenging market environment.
In addition to the profit increase, JBM Auto reported sales, including other operating income, stood at Rs 1,396 crore in the third quarter, a growth of 4% compared to Rs 1,346 crore from a year ago. This steady uptrend underscores the company's resilience and strategic market positioning.
The company's board previously recommended a sub-division of equity shares, which has been approved by shareholders. This strategic move aims to make shares more accessible. On Wednesday, the company's shares rose by 2.7%, closing at Rs 1,401.05 on the BSE, indicating investor confidence in the company's growth trajectory.
(With inputs from agencies.)