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Mumbai: A moderation of the sales growth in the auto sector has led Jay Bharat Maruti (JBM) to post a flat growth in profits at Rs 5.53 crore for the first quarter ending June 30, 2011. The company is one of the largest suppliers of sheet metal, axles and exhaust components to Maruti Suzuki.
Revenues in the period, however, rose 16 per cent to Rs 261 crore. The EBIDTA stood at Rs 21 crore, a decrease of 1.12 per cent, while the operating margins decreased to 8.13 per cent from 9.50 per cent in the corresponding quarter last fiscal.
JBML was incorporated in 1987 as a joint venture with Maruti Suzuki. In 2010-11, JBM plans to expand capacities at its third Plant to meet higher volume requirements from Maruti.
JBM shares at the BSE were up 0.91 per cent to Rs 82.90 on Thursday.
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