India's JBM Auto turns negative on 67% Q4 profit slump

Jbm Auto

10/05/2023 10:21

** Shares of JBM Auto Ltd  JBMA.NS  pares gains to fall as
much as 6.6% to 775 rupees, its steepest intraday pct drop since
Dec. 23, 2022
    ** Electric bus-maker reports 67.2% drop in Q4 consolidated
net profit to 280.7 mln rupees ($3.4 mln); revenue from
operations falls 5.8% to 10.10 bln rupees
    ** Stock rose as much as 2.9% to a record high 853.7 rupees
ahead of results
    ** Nearly 1.2 mln shares change hands as of 2:22pm IST, 1.6X
the 30-day moving average; most active session since April 19
    ** Stock trimmed some YTD gains, currently up 51.1% from
last year

($1 = 81.7800 Indian rupees)
    

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))