- Jupiter Wagons shares hit a record high following a significant increase in net profit for Q4FY24.
- The company’s standalone net profit surged 155 percent to ₹104.22 crore in the March quarter, driven by higher income.
- “This exceptional performance in the fourth quarter culminates in a remarkable financial year for Jupiter Wagons,” said Vivek Lohia, Managing Director of Jupiter Wagons.
Jupiter Wagons shares soar to record high after a sharp rise in Q4 net profit, marking a successful financial year for the company.
Record-Breaking Performance for Jupiter Wagons
Jupiter Wagons shares rallied 10 percent to hit a record high of ₹448.75 apiece after the company posted a sharp jump in its net profit for the quarter ended March 2024 (Q4FY24). The company’s standalone net profit surged 155 percent to ₹104.22 crore in the March quarter, on account of higher income. It had reported a net profit of ₹40.78 crore in the same quarter last year. Meanwhile, the company’s total income during the quarter jumped over 57 percent to ₹1,121.34 crore from ₹712.71 crore in the year-ago period. EBITDA for Q4 FY24 came at ₹147.72 crore, up 59 percent YoY.
Outstanding Results and Major Orders
The firm not only reported outstanding results but also secured three major orders during the quarter. The first order was from the Ministry of Railways worth ₹957 crore, the second from the Ministry of Defense valued at ₹473 crore, and the last from Double Decker Automobile Carrier Wagons for ₹100 crore. Additionally, the private company made a strategic move into global markets by signing a long-term Memorandum of Understanding (MOU) with RITES Ltd, a public sector unit associated with Indian Railways, to pursue international opportunities for railway rolling stock projects. As of March 31, the company’s order book stands at ₹7,101.66 crore.
Conclusion
With a record-breaking financial year and a strong order book, Jupiter Wagons is poised for continued growth. The company’s strategic move into global markets further strengthens its position as a leading provider of comprehensive mobility solutions. Investors and shareholders can look forward to a promising future for Jupiter Wagons.
