JMC Projects gains after Q4 FY22 PAT rises 41% YoY to Rs 58 cr

JMC Projects (India) gained 6.4% to Rs 78.10 after the company reported a 41.1% rise in consolidated net profit to Rs 58.47 crore on a 15.3% increase in net sales to Rs 1,604.75 crore in Q4 FY22 over Q4 FY21.

The company posted a 8.8% rise in profit before tax to Rs 66.97 crore in Q4 FY22 as against Rs 61.57 crore posted in Q4 FY21. Total expenses were rose by 17.2% year on year to Rs 1,443.21 crore for the quarter ended 31 March 2022 from Rs 1231.70 crore for the quarter ended 31 March 2021.

The construction firm recorded a consolidated net profit of Rs 18.19 crore in the financial year ended 31 March 2022 as against a net loss of Rs 26.20 crore for the financial year ended 31 March 2021. Net sales jumped 43.6% to Rs 5,518.82 crore in FY22 over FY21.

Meanwhile, the company's chief financial officer (CFO), Azad Shaw, resigned from his position on 12 May 2022 to pursue an external professional opportunity. Mr Shaw will be relieved from the services of the company with effect from 30 May 2022.

The board has also recommended a dividend of Re 1 per equity share for the financial year ended 31 March 2022.

JMC Projects (India), a subsidiary of Kalpataru Power Transmission, is a civil engineering and EPC company.

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