Auto components manufacturer Jay Bharat Maruti Ltd (JBML) reported a two-fold jump in its net profit to Rs10.3 crore in the quarter ended September 2010 over the same period last fiscal. The company had a net profit of Rs4.4 crore in the quarter ended September 2009, JBML said in a statement.
During the September 2010 quarter, the company's revenue zoomed 42.4% to Rs291.9 crore from Rs205 crore in the corresponding quarter last fiscal. "Auto sales in the last quarter have witnessed an upward trend on account of OEMs (original equipment manufacturers) launching various new models in the Indian market on one hand, and convenient financing options available to customers on the other," SK Arya, chairman, JBML said.
On Monday, JBML shares jumped 20% to Rs98 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% higher at 20,168 points.
Sun Pharma (up 7%) gained after acquisition of a controlling stake in Taro Pharma
Karnataka Bank Ltd said its net profit rose 75.7% to Rs28.7 crore in the quarter ended September 2010 as against Rs16.4 crore during the same quarter last year.
During the September 2010 quarter, the Bank's total operating income increased 15.7% to Rs571.8 crore compared to Rs494.37 crore.
On Monday, Karnataka Bank shares declined 1.6% to Rs179 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% higher at 20,168 points.