JBM Auto Profit Jumps Five-Fold

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Components manufacturer JBM Auto projected a net profit of INR 21.39 crore, for the first quarter end of 30th June, 2014-15.

The company had mentioned a net profit of INR 4.09 crore during April to June, last year.

The total sales of the company rose to INR 355.93 crore for the financial year 2014-15, compared to total sales of INR 231.24 crore during the same time last year.

Also Read: Tata Motors Profits Tripled Through Jaguar And Land Rover

Nishant Arya, Executive Director of JBM group said that the automobile industry is getting back on track as they are showing positive sentiments. He said going further, he hopes that sales numbers would go higher, which in turn would help increase their performance and profit.

The company has invested INR 100 crore already for a new manufacturing facility in Indore, to produce chassis parts and exhaust systems for vehicles like Volvo, Eicher and Mahindra.

The JBM Group also plans to invest another INR 700 crore for automobile component manufacturing this year, to increase their yearly revenue to INR 10,000 crore from INR 7,000 crore.

The company, which started as a LPG cylinder manufacturer in 1983, entered into the automotive field in the year 1985.

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Story first published: Tuesday, August 19, 2014, 11:01 [IST]
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