Shares of JBM Vehicle Limited settled 2.06 per cent lower at Rs 444.30 each on BSEAutomobile element major JBM Automobile revealed its January-March quarter results for the financial year 2020-21, reporting a two-fold jump in net revenue on a consolidated basis.

According to a statement shared by the company on Tuesday, May 18, JBM Car reported a net earnings of Rs 32.24 crore in the March quarter, compared to Rs 15.83 crore reported in the corresponding quarter of the previous financial, marking a dive of 103.65 per cent.

The dive in net revenue was on the back of robust sales tape-recorded during the quarter.According to the declaration, JBM Auto's profits from operations on a consolidated basis in the fourth quarter stood at Rs 744.88 crore, compared to Rs 475.21 crore in the corresponding period of the previous fiscal.

Based on a regulative filing to the stock exchanges, the business's board of directors advised a 30 percent dividend of Rs 1.50 per share on a completely paid-up equity share of Rs 5 each for the fiscal year 2020-21, based on the approval of the shareholders.The vehicle component major JBM Vehicle Limited is the flagship business of the JBM Group.

The company has a diverse portfolio of infrastructure, engineering - style services, and renewables.

It also has an infrastructure of 60 factory and 5 engineering and design centers in more than 10 countries.On Tuesday, Might 18, shares of JBM Vehicle Limited settled 2.06 per cent lower at Rs 444.30 apiece on the BSE.

JBM Auto opened at Rs 461.95, swinging to an intra day high of Rs 479.55 and an intra day low of Rs 440.20 throughout the session.