Shares of Jupiter Wagons skyrocketed 18% and hit a 52-week high of Rs 497.90 on 10 May after the company announced its quarterly earnings for January-March. 

The company’s quarterly report recorded a jump of over twofold in its net profit to Rs 104.2 crore from Rs 40.78 crore reported in the same quarter of the previous fiscal year. 

The revenue during the quarter stood at Rs 1,121.34 crore, marking a 57% year-on-year increase from Rs 712.71 crore reported in the same quarter last year. During the quarter, the company manufactured the highest-ever 2,520 wagons and is planning to increase its capacity to 1 lakh wheelsets per annum from 10,000 wheelsets in the next 2-3 years. 

The company’s order book as of 31 March 2024 stands at Rs 7,101.66 crore. 

Earlier, the company announced that it was securing a contract from the Ministry of Defence for the manufacturing and supply of 697 Bogie Open Military (BOM) wagons.

In its filing, the company added, “The new contract wins in this quarter from the Ministry of Defence and Ministry of Railways will add to the existing order backlog and provide strong visibility.”

Jupiter Wagons provides comprehensive mobility solutions, with diverse offerings across freight wagons, passenger coaches, locomotives, metro coaches, and braking systems, among others.

At 3:30 pm, the shares of Jupiter Wagons closed 15.19% higher at Rs 484.10 on NSE.