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Revenue from operations increased by 9.39% to Rs 946.22 crore during the quarter as compared with Rs 865.03 crore in corresponding quarter last year.
Profit before tax was at Rs 38.34 crore in Q1 FY24, registering the growth of 9.51% as compared with Rs 35.01 crore in same quarter last year.
The company's revenue from Tool Room division stood at Rs 75.24 crore (up 101.12% YoY) and revenue from OEM division was at Rs 151.59 crore (up 72.97% YoY ) during the quarter.
However, revenue from Component division dropped 2.88% to Rs 719.43 crore in Q1 FY24.
Meanwhile, the board has approved the proposal for issuance of securities for an amount not exceeding Rs 500 crore.
Further the company's subsidiary JBM Electric Vehicles has commenced its commercial operation at its new electric buses manufacturing plant situated at Delhi – Agra Highway, Banchari, Palwal, Haryana.
JBM Auto is engaged in the automotive business that manufactures and sell sheet metal components, tools, dies & moulds and buses including sale of spare parts, accessories & maintenance contract of buses.
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