Mobility solutions provider Jupiter Wagons Ltd reported a 46% increase in net profit for the first quarter ending June 30, 2024. The net profit rose to ₹91.9 crore from ₹62.9 crore in the same quarter last year. The company’s revenue from operations also grew by 16.8% to ₹879.9 crore, up from ₹753.2 crore in the same period of the previous year.
At the operating level, EBITDA (earnings before interest, tax, depreciation, and amortization) increased by 41.1% to ₹136.7 crore, compared to ₹96.9 crore last year. The EBITDA margin improved to 15.5% from 12.9%.
Jupiter Wagons’ wheelset manufacturing subsidiary saw a five-fold increase in revenue and became profitable with a profit after tax of ₹702 lakh in Q1 FY25. The order book as of June 30, 2024, stands at ₹7,028.34 crore.
The EPS (earnings per share) for the quarter is ₹2.16 per share of a face value of ₹10 each. Jupiter Electric Mobility Private Ltd, a subsidiary of Jupiter Wagons, received approval from the Automotive Research Association of India (ARAI) for its battery-operated light commercial vehicle, JEM TEZ, which features fast charging technology.
Vivek Lohia, Managing Director of Jupiter Wagons, stated, “Our wagon business remains crucial, contributing 80% of revenue. We are diversifying into railway components, commercial vehicles, brake systems, and containers.”
“Our acquisition of Bonatrans has been successful, with revenue increasing five-fold to ₹7,436 lakh and EBITDA rising to ₹930 lakh, with a margin of 12.5% in Q1 FY25. Additionally, Jupiter Wagons raised ₹80,000 lakh through a qualified institutional placement (QIP), with a demand of approximately ₹2,80,000 lakh, featuring prominent investors.”
