BWI: Jamna Auto Second Quarter FY10-11 Turnover up at Rs. 239 crore, Net Profit at Rs. 9.71crore

Press release from Business Wire India
Source: Jamna Auto Industries Ltd
Thursday, November 11, 2010 05:23 PM IST (11:53 AM GMT)
Editors: General: Consumer interest, Economy; Business: Automotives, Banking & financial services, Business services, Financial Analyst, Stock exchanges; Automotive
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Jamna Auto Second Quarter FY10-11 Turnover up at Rs. 239 crore, Net Profit at Rs. 9.71crore


New Delhi, Delhi, India, Thursday, November 11, 2010 -- (Business Wire India) -- Highlights

. H1FY11 consolidated turnover up at Rs. 457 crore as against Rs. 274 crore for the corresponding period previous year

. H1FY11 consolidated net profit at Rs.19 crore as against Rs. 8.59 crore for the corresponding period previous year

Jamna Auto Industries Limited announced its financial results for the second quarter ended 30th September the current financial year of 2010-11.

For the second quarter ended 30 September, 2010, the company's consolidated turnover grew 45% to Rs. 239 crore as compared to Rs. 164 crore for the corresponding period in the previous year. Consolidated net profit during the same period stood at Rs. 9.71 crore as Rs. 7.54 crore. The company had raised equity of Rs. 25 crore in August, 2010 which was utilized to retire high cost debt.

Cautionary Statements

Statements in this Press Release describing the company's objections, projections, estimates, expectations or predictions may be forward looking statements within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the company's operations include demand supply conditions, raw material and other input prices, cyclical demands and pricing in the markets, change in government regulations, tax regimes, economic development/conditions in the country and other factors such as litigation and labour negotiations. The company assumes no responsibility to publicly amend, modify or revise any forward looking statement on the basis of any subsequent development, information or events or otherwise.

About Jamna Auto Industries Ltd (BSE code: 520051)

Jamna Auto Industries is India's largest and among the world's five largest commercial vehicle spring manufacturer. The company manufactures leaf springs and parabolic springs for M&HCVs, with an installed capacity of 144,000 mtpa. The manufacturing facilities are located at Yamuna Nagar (Haryana), Chennai, Malanpur (Madhya Pradesh) and Jamshedpur. Jamna Auto is a majority partner in Jai Suspension Systems LLP which has its plant at Pant Nagar (Uttarakhand).


CONTACT DETAILS
Amit Arora, Mutual PR, +91 9811154140, amit@mutualpr.com

KEYWORDS
CONSUMER, ECONOMY, AUTOMOTIVE, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES, AUTOMOTIVE

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