JMC Projects jumps after bagging fresh orders

JMC Projects (India) soared 17.18% to Rs 59 after the company said it secured new orders worth Rs 938 crore.

JMC Projects on Wednesday (24 June) announced that it secured water supply projects in Uttar Pradesh totalling Rs 841 crore and a building project in South India totalling Rs 97 crore.

Commenting on securing new orders, S. K. Tripathi (CEO & Dy. managing director) commented, We continue to scale up our water business and have expanded our presence in Uttar Pradesh with the new order wins. We remain confident of significant growth opportunities in the water business going forward.

The counter has surged 31.8% in a week compared with 6.92% rise in BSE SmallCap index.

On a consolidated basis, the company reported a consolidated net loss of Rs 54.76 crore as against a consolidated net profit of Rs 35.24 crore in Q4 March 2019. Net sales declined 0.4% to Rs 976.28 crore in Q4 March 2020 over Q4 March 2019.

JMC Projects (India), a subsidiary of Kalpataru Power Transmission, is an engineering and construction services company.

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