JMC Projects (India) declined 2.54% to Rs 46 after the company 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 revenue from operations fell 13.7% to Rs 842.67 crore in Q2 September 2020 over Rs 976.64 crore in Q2 September 2019. The Q2 result was declared after market hours yesterday, 3 November 2020.
Consolidated pre-tax loss stood at Rs 11.74 crore in Q2 September 2020 as against a pre-tax profit of Rs 27.03 crore in Q2 September 2019. Current tax expenses for the quarter slumped 76% to Rs 2.92 crore as against Rs 12.16 crore in Q2 September 2019.
JMC Projects (India) said that the group's operations and financial results for the period ended have been adversely impacted by the lockdown imposed to contain the spread of COVID-19. The operations gradually resumed with requisite precautions during the current quarter with limited availability of workforce and disrupted supply chain. However labour availability has now been improved and there are indicators for operations becoming normal. The results for the quarter are therefore not comparable with those for the previous quarter.
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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