Midcap Railway Stock Hits 52-Week High As Profits Soar 230%

Shares of Jupiter Wagons continued to make gains for the third straight session on Monday going up over 5% to hit a new 52-week high of ₹324.95.

What Happened: The railway company reported its financial results for the September quarter on Sunday. Net profits for the quarter saw a multifold increase, surging to ₹82.1 crore compared to the ₹24.1 crore reported in the same quarter of the previous year.

In the quarter ending September 2023, the company’s revenue also had a similar bump, going up 112% to reach ₹885.1 crore, in contrast to the ₹417.7 crore reported in the same quarter last year.

See Also: Reliance Shares Jump As Q2-Print Impresses Investors, Analysts

EBITDA for the quarter came in at ₹120.7 crore with an EBITDA margin of 13.7%. Earnings per share for the quarter was at ₹2.

“There are exciting developments lined up for the rest of the year as we anticipate continued ordering
momentum in wagons, braking systems and brake discs,” said Vivek Lohia, the company’s managing director.

Price Action: Jupiter Wagons’ share price was up 3.49% to trade at ₹320.30 shortly after market open on Monday.

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