New Delhi: Auto component maker JBM Auto on Thursday posted 18.53 per cent rise in its net profit at Rs 17.91 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 15.11 crore during the same period of previous fiscal.
Net sales of the company rose to Rs 413.77 crore for the second quarter, as compared to Rs 403.16 crore during the same period of previous fiscal, JBM Auto said in a statement.
"The quarter under consideration has shown improved numbers due to the positivity in the market and customers of both passenger cars and commercial vehicles purchasing new vehicles," JBM Group Executive Director Nishant Arya said.
The new models launched in the recent past got an excellent response from the market; the company's chassis and suspension business also performed beyond projections, he
"Deliveries for our intra-city bus Citylife shall commence shortly, the payments for these buses has further boosted our earnings. Going forward, we foresee that our bus business
shall be a major contributor to our company," Mr Arya said.
JBM Auto shares closed 9.16 per cent down at Rs 169.60 apiece on BSE on Thursday.