Jupiter Wagons announced its June quarter results after market close on Thursday.
What Happened: Jupiter Wagons reported a 46.24% jump in net profit to ₹91.92 crore from ₹62.85 crore in the previous year. On a sequential basis, it was down 12.59% from ₹105.17 crore in the March quarter.
The company’s revenue rose 16.81% to ₹879.86 crore as against ₹753.18 crore in the previous year. From the March quarter, the revenue fell 21%from ₹1,115.41 crore.
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The company had secured ₹800 crore through a qualified institutional placement (QIP) from investors such as Morgan Stanley, Edelweiss Mutual Fund and Bank Of India Mutual Fund in July. Foreign Institutional Investors have increased their stake in the company in the June quarter to 4.14% from 2.28% in March.
In June, Jupiter Wagons won a contract from Siemens to supply 36 auxiliary batteries, each with a capacity of 72.8-kilowatt-hour, for 9 Vande Bharat Trainsets.
Price Action: Shares of Jupiter Wagons closed 2.79% down at ₹628.
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