Kolkata, Feb 14 (PTI) Engineering and mobility company Jupiter Wagons Limited (formerly Commercial Engineers & Body Builders Co Limited) announced a four-fold jump in net profit to Rs 46.38 crore in the third quarter ended December 2022, driven by higher revenues.

The company had posted a net profit of Rs 9.15 crore in the same quarter a year ago.

Also Read | Jharkhand Horror: Lovelorn Girl Meets Tragic End Ahead of Valentine's Day, Lover Rapes and Kills Her by Inserting Iron Rod in Private Parts.

Revenue during the quarter stood at Rs 644 crore, higher by 116 per cent on a year-on-year basis, the company said in a statement.

EBITDA margin expanded by 470 basis points to 12.8 per cent.

Also Read | WPI Inflation Eases to 2-Year Low of 4.73% in January 2023; Food Items Turned Expensive.

The company stated it unveiled two models of electric light commercial vehicles (LCV) at the last Auto Expo.

The order book of the company stood at Rs 5702 crore as of December.

"Growth momentum remains strong in established businesses as we are steadily ramping up monthly wagon production and witnessing improving traction in our business line of truck bodies. We are focused on scaling up newer business lines of high-speed braking and container manufacturing," Jupiter Wagon's Managing Director Vivek Lohia said.

"The launch of our electric LCV at the Auto Expo was met with a very favourable response, we expect commercial launch by Q3 2024 and we are in discussion with several potential partners," he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)