Jay Bharat Maruti slumps on profit booking

about 2 years ago
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Jay Bharat Maruti is engaged in the manufacture of automobile components and in a buildup to the Q1FY18, the stock had hit a new it has hit a life time high on 17th July at Rs.748.75 but post the numbers, there has been massive profit booking and the stock is now in the red. The stock dipped 9.5% to Rs.647.35 and current remains 7% lower at Rs.660 levels.

The company actually posted a good set of numbers for Q1FY18. Its net revenue rose 31% (YoY) at Rs.435 crore. Other income spurted up over 3 times to Rs.2 crore. Total costs rose 30% yet thanks to the robust topline, it ended the quarter with a net profit at Rs.10 crore, up 43%.

Equity is at Rs.10.82 crore and EPS for the quarter was at Rs.4.68 (FV of Rs.5).

Promoters hold 58.56% of which Maruti holds 29.28% stake.

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