JBML Q3 net profit up by 93.34%

Jay Bharat Maruti Limited (JBML), a leading supplier of auto components to Maruti Suzuki India Ltd., on Wednesday announced its financial results for the quarter ended December 31, 2010, where it reported a 93.34% increase in net profit.

For the quarter ended December 31, 2010, the company recorded gross revenues of Rs 302.33 crore, an increase of 35.98% from Rs 222.33crore in the corresponding quarter last fiscal.

EBIDTA stood at Rs 27.70 crore, an increase of 33.95% as compared to Rs 20.68 crore in Q3FY10. Net profit stood at Rs 10.46 crore, up by 93.34% from Rs 5.41crore.

Commenting on the results, S. K. Arya, Chairman, JBML said: ?We are completely in sync with the growth plans of our customers and are committed to providing on-time deliveries. Looking at the industry trend over the year gone by, we are hopeful of closing the financial year with a promising note.?