JMC Projects (India) gallops on bagging new order

JMC Projects (India) rose 2.93% to Rs 68.40 after the company said it has secured building projects in South India worth approximately Rs 698 crore.

Commenting on new order wins, S. K. Tripathi, CEO and Dy. managing director of JMC Projects (India), has commented that: "We are pleased with the new orderwins in our B&F (Buildings & Factories) business. Our recent orders have further strengthen JMC's position in the Southern India B&F market. Our order inflows for the current year has crossed Rs 6,700 crore. We remain confident to achieve our targeted numbers for the financial year 2020-21."

In a separate announcement, the company notified that Vardhan Dharkar, director (finance) & chief financial officer (key managerial personnel) of the company tendered his resignation vide letter dated 29 December 2020 due to personal reasons. Accordingly, he will be relieved from the services of the company with effect from 31 December 2020 after the close of business hours.

Both the announcements were made before market hours today, 30 December 2020.

JMC Projects (India) reported a consolidated net loss of Rs 18.13 crore in Q2 September 2020 as compared to a net profit of Rs 14.44 crore in Q2 September 2019. Consolidated net sales fell 13.7% to Rs 842.67 crore in Q2 September 2020 over Rs 976.64 crore in Q2 September 2019.

JMC Projects (India) is a subsidiary of Kalpataru Power Transmission. The company is primarily engaged in the business of engineering, procurement and construction (EPC) relating to infrastructure sector comprising of buildings and factories, roads and bridges, water pipe lines, metro, power, railways etc.

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