Q4 Results Impact: Jupiter Wagons rallies 10% to hit new high as profit jumps 155%
Jupiter Wagons rallied 10 percent to hit its record high of ₹448.75 apiece after it 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. Post today's jump, the stock has soared almost 316 percent from its 52-week low of ₹107.95, hit on May 10, 2023.
Meanwhile, it has soared around 277 percent in the last one year and over 40 percent in 2024 YTD. The scrip has risen 9 percent in May so far after another 9 percent jump in April. Meanwhile, it was flat, up over half a percent in March.
Before that, the stock shed 8 percent in February and advanced over 26 percent in January this year. "We achieved the milestone of surpassing ₹1,100 crore of revenue in a quarter for the first time ever. This exceptional performance in the fourth quarter culminates in a remarkable financial year for Jupiter Wagons, characterized by record-breaking revenues of ₹3,662.24 crore and profit after tax of ₹332.79 crore in FY23-24.
In light of our robust performance, the Board of Directors has recommended a final dividend of 30 paise per share, resulting in an enhanced full-year dividend payout to our esteemed shareholders," said Vivek Lohia, Managing Director of Jupiter Wagons. 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
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