JBM Auto advanced 2.94% to Rs 1687.55 after the company said that its subsidiary JBM Ecolife Mobility has been awarded a contract for 343 electric buses from Ahmedabad Janmarg and other leading corporates.

In an exchange filing made yesterday, the company stated that JBM Ecolife Mobility, a subsidiary/joint venture of JBM Auto, has been awarded a contract as a bus operator for procurement, operation and maintenance of 343 electric buses for Ahmedabad BRTS, Ahmedabad Municipal Transport Service under gross cost contracting [GCC] and some leading corporates.

The total value of the said contract is Rs 1,800 crore and it has to be executed within a period of one year.

JBM Auto is engaged in the automotive business that manufactures and sell sheet metal components, tools, dies & moulds and buses including sale of spare parts, accessories & maintenance contract of buses.

The company’s consolidated net profit rose 11.96% to Rs 49.53 crore on a 4.47% increase in sales to Rs 1,285.98 crore in Q2 FY25 as compared with Q2 FY24.