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JMC Projects Q4 results: Posts Rs 41 cr profit; co declares 35% dividend

The board also approved a dividend of Rs 0.70 (35 per cent) per equity of with face value of Rs two each for 2020-21 subject to approval of members at the ensuing annual general meeting.
NEW DELHI: on Monday posted a consolidated net profit of Rs 41.44 crore for the January-March quarter driven by higher revenues.

The company had reported a consolidated net loss of Rs 54.76 crore in the quarter ended on March 31, 2020, a BSE filing said.

Total income of the company rose to Rs 1,403.14 crore in the quarter from Rs 984.81 crore in the same period a year ago.

The consolidated net loss of the company is 26.20 crore in 2020-21 against a profit of Rs 1.20 crore in 2019-20. Total income of the company in 2020-21 is Rs 3,871.74 crore compared to Rs 3,894.20 crore in 2019-20.

The board also approved a dividend of Rs 0.70 (35 per cent) per equity of with face value of Rs two each for 2020-21 subject to approval of members at the ensuing annual general meeting.

The board also elevated Shailendra Kumar Tripathi from the position of CEO & Dy. Managing Director to the position of CEO & Managing Director of the company and approved changes in his present terms of appointment with immediate effect for his remaining tenure with the Company i.e. till October 21, 2022 as recommended by the Nomination and Remuneration Committee at its meeting held earlier in a day.

The stated elevation and changes in his terms of appointment are subject to the approval of the members at the ensuing Annual General Meeting of the Company.

The board in its meeting on Monday also approved the appointment of Azad Shaw as a Chief Financial Officer (‘CFO’) of the Company with immediate effect as recommended by the Nomination and Remuneration Committee and Audit Committee at its respective meeting held earlier in a day.

Shaw has also been appointed as a Key Managerial Personnel of the Company with immediate effect in terms of the provisions of Section 203 of the Companies Act, 2013 and rules made thereunder.

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Source: JMC Projects Q4 results: Posts Rs 41 cr profit; co declares 35% dividend

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