Jamna Auto reports Q2FY19 performance; stock falls

Jamna Auto Industries Ltd. reported a positive YoY financial performance for the quarter ended September, 2018.

Revenue from operations rose to Rs. 548.3713 crore in Q2FY19 from Rs. 386.1039 crore in Q2FY18, registering an increase of 42.02 per cent. EBITDA rose to Rs. 711.728 crore in Q2FY19 from Rs. 563.476 crore in Q2FY18, posting a growth of 26.31 per cent. Profit for the year increased to Rs. 355.194 crore in Q2FY19 in comparison to Rs. 294.491 crore in Q2FY18, marking an increase of 20.61 per cent.

However, the QoQ performance is negative. Revenue from operations dipped 2.45 per cent to Rs. 548.3713 crore in Q2FY19 versus Rs. 562.1858 crore in Q1FY19. EBITDA dropped to Rs. 711.728 crore in Q2FY19 in comparison to Rs. 785.855 crore in Q1FY19, posting a fall of 9.43 per cent. Profit for the year plummeted to Rs. 355.194 crore in Q2FY19 from Rs. 400.106 crore in Q1FY19, registering a drop of 11.22 per cent.

On the consolidated annual front, revenue from operations increased to Rs. 1,757.3193 crore in FY18 from Rs. 1,409.6347 crore in FY17, posting a growth of 24.66 per cent. EBITDA rose to 2,456.866 crore in FY18 in comparison to Rs. 2,052.459 crore in FY17, registering an increase of 19.70 per cent. Profit for the year surged 19.38 per cent to Rs. 1,253.058 crore in FY18 from Rs. 1,049.584 crore in FY17.

In a press release to the exchange, the company announced an interim dividend of Rs. 0.50 per equity share of nominal value Re. 1 each for the FY2018-19. The record date for the same was declared as Friday, November 30, 2018. This date will determine the eligibility of the shareholders for the payment of the interim dividend.

On Monday, the shares of Jamna Auto opened at a price of Rs. 78.80 per share, and hit a high and low of Rs. 79.05 per share and Rs. 75.20 per share, respectively. At 3:02 pm, the stock was trading at Rs. 76.00, down 2.38 per cent.