JMC Projects jumped 8.46% to Rs 52.55 after the EPC company secured new orders of Rs 1,363 crore.
The company said it won building projects in South India totaling Rs 1,169 crore and a water supply project in Bihar of Rs 194 crore.Commenting on securing new orders, S. K. Tripathi, CEO JMC Project said, "We are happy with the new order wins in the face of challenging market conditions. We continue to focus on scaling up our operations and improving our cost competitiveness. We are witnessing continuous improvements in operations and expect execution to normalise at pre COVID levels by end of Q2 FY21. With our order book of over Rs 11,400 crore and L1 of Rs 1,700 crore, we remain confident to deliver positive and profitable growth for full year FY21."
Meanwhile, the company announced its Q1 June 2020 result after market hours yesterday. JMC Projects posted a consolidated net loss of Rs 52.21 crore in Q1 June 2020 as against Rs 20.61 crore in Q1 June 2019. Net sales for quarter ending June 2020 stood at Rs 498.38 crore, falling 47% from Rs 946.92 crore in the same period last year.
JMC Projects (India) is an engineering and construction services company. The firm is engaged in the construction of buildings and others. The company is a subsidiary of Kalpataru Power Transmission.
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