New Delhi, Nov 3 (PTI) JMC Projects (India), a Kalpataru Group firm, on Tuesday reported a consolidated loss of Rs 18.13 crore for September quarter mainly due to lower revenues.

In the year-ago period, the company clocked a profit of Rs 14.44 crore, it said in a BSE filing.

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Total income declined to Rs 848.43 crore in the quarter under review from Rs 985.57 crore a year ago.

The company said its operations and financial results for the quarter have been adversely impacted by the lockdown imposed to contain the spread of COVID-19.

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Operations gradually resumed with requisite precautions during the quarter with limited availability of workforce and disrupted supply chain, it added.

However, labour availability has now improved and there are indicators for operations becoming normal.

The results for the quarter are therefore not comparable with the year-ago period, it said.

The group has assessed the impact of the pandemic on its financial results/position based on the internal and external information available up to the date of approval of these financial results and expects to recover the carrying value of its assets, it said.

The group continues to monitor the economic effects of the pandemic while taking steps to improve its execution efficiencies and the financial outcome, it added. PTI KKS

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