JBM Auto Posts 15% Drop in Q4 Profit

New Delhi: Auto component maker JBM Auto on Monday reported a 15.23 per cent decline in net profit at Rs 17.58 crore for the fourth quarter that ended on March 31, 2015.

The company had posted a net profit of Rs 20.74 crore for the corresponding period a year ago.

Net sales of the company declined to Rs 375.16 crore for the fourth quarter as compared to Rs 377.20 crore in the year-ago period.

For the year ended March 31, the company posted a net profit of Rs 76.41 crore as compared to Rs 50.21 crore during fiscal year 2013-14.

Net sales for the year ended March 31 rose to Rs 1,556.95 crore as compared to Rs 1,363.89 crore in the previous financial year.

Commenting on the results, JBM Group executive director Nishant Arya said the past financial year was extremely positive for the company.

"The launches of new car models across segments by all top manufacturers were well accepted by the customers, which provided a strong boost to our sales numbers," he added.

JBM Auto manufactures chassis and suspension systems, exhaust systems, welded assemblies, tools and dies.

The company's shares on Monday ended 4.40 per cent lower at Rs 237.10 apiece on the BSE.