JMC Projects (India) rallies on winning project orders worth Rs 1,451 cr

JMC Projects (India) advanced 2.65% to Rs 121.95 after the company secured new water project orders in India worth Rs 1,451 crore.

The announcement was made before market hours today, 6 August 2021.

S. K. Tripathi, managing director (MD) and chief executive officer (CEO) of JMC Projects (India), said, "We are pleased with the new order wins in our water business. These orders will contribute significantly towards the growth of the water business and further widen our client portfolio. With these orders, our YTD FY22 order inflows have surpassed Rs 6,000 crore with a strong growth over last year. The current order book along with above orders will help us to deliver consistent growth over the next few years."

On a consolidated basis, the company reported a net loss of Rs 10.15 crore in Q1 FY22 as against a net loss of Rs 52.21 crore in Q1 FY21. Net sales jumped 132.9% to Rs 1,160.82 crore in Q1 FY22 over Q1 FY21.

JMC Projects (India), a subsidiary of Kalpataru Power Transmission, is one of the leading civil construction and infrastructure EPC company in India.

Shares of Kalpataru Power Transmission gained 0.38% to Rs 464.10 on BSE. The stock traded in the range of Rs 463 to Rs 469.50 so far.

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