JMC Projects surges 7% on better Q1 nos, stock split announcement

Share price of JMC Projects (India) surged 7 percent intraday Monday as company approved stock split and reported better Q1 numbers.

The company has approved proposal for sub-division (split) of the existing face value of the equity shares of the company from Rs 10 each to Rs 2 each, subject to the approval of the members of the company.

The company's Q1FY19 net profit rose 22 percent at Rs 26.6 crore against Rs 21.8 crore in the same quarter last fiscal.

Revenue was up 3.3 percent at Rs 688.7 crore versus Rs 666.7 crore.

The operating profit or EBITDA was up 8.4 percent at Rs 70.9 crore and margin was at 10.3 percent.

At 14:50 hrs JMC Projects (India) was quoting at Rs 566.60, up Rs 26.85, or 4.97 percent on the BSE.