Business Standard

Jain Irrigation dips on weak Q3 earnings

Q3 EBIDTA has declined 27.4% to Rs 138 crore against Rs 190 crore over the previous year quarter

SI Reporter  |  Mumbai 

Systems has dipped over 6% to Rs 66.95 in opening deals after reporting a net loss of Rs 31 crore for the third quarter ended December, 2012 (Q3), mainly due to unrealized forex losses of Rs 57 crore. The company had clocked a net profit of Rs 1.24 crore in the same quarter last fiscal.

“Total income declined by 7.3% to Rs 771 crore in Q3 from Rs 832 crore during the same quarter of previous fiscal,” Jain Irrigation said in a statement.

Earnings before interest, taxes, depreciation, and amortization (EBIDTA) have declined 27.4% to Rs 138 crore against Rs 190 crore over the previous year quarter, it added.

The company is the largest micro irrigation company in the country, manufactures drip and sprinkler irrigation systems, solar water heating systems and agro-processed products, among others.

The stock opened at Rs 67.50 and hit a high of Rs 69.85 on the NSE. A combined around 600,000 shares have changed hands on the counter on both the exchanges.

RECOMMENDED FOR YOU

Jain Irrigation dips on weak Q3 earnings

Q3 EBIDTA has declined 27.4% to Rs 138 crore against Rs 190 crore over the previous year quarter

Jain Irrigation Systems has dipped over 6% to Rs 66.95 in opening deals after reporting a net loss of Rs 31 crore for the third quarter ended December, 2012 (Q3), mainly due to unrealized forex losses of Rs 57 crore.

Systems has dipped over 6% to Rs 66.95 in opening deals after reporting a net loss of Rs 31 crore for the third quarter ended December, 2012 (Q3), mainly due to unrealized forex losses of Rs 57 crore. The company had clocked a net profit of Rs 1.24 crore in the same quarter last fiscal.

“Total income declined by 7.3% to Rs 771 crore in Q3 from Rs 832 crore during the same quarter of previous fiscal,” Jain Irrigation said in a statement.

Earnings before interest, taxes, depreciation, and amortization (EBIDTA) have declined 27.4% to Rs 138 crore against Rs 190 crore over the previous year quarter, it added.

The company is the largest micro irrigation company in the country, manufactures drip and sprinkler irrigation systems, solar water heating systems and agro-processed products, among others.

The stock opened at Rs 67.50 and hit a high of Rs 69.85 on the NSE. A combined around 600,000 shares have changed hands on the counter on both the exchanges.

image

LIVE MARKET

BSE 25201.90

-562.88 (-2.18 %)

NSE 7655.05

-167.95 (-2.15%)

Widgets Magazine

STOCK WATCH

Company Price() Chg(%)
Ent.Network 655.60 7.67
Goldline Intl. 194.00 4.81
Jyothy Lab. 320.80 4.73
PMC Fincorp 1.63 4.49
Sun TV Network 387.30 4.00
> More on BSE Gainers
Company Price() Chg(%)
Ent.Network 663.05 8.11
Amtek Auto 32.80 4.13
Sun TV Network 387.65 4.04
Jyothy Lab. 319.90 3.98
La Opala RG 589.70 3.91
> More on NSE Gainers
Company Price() Chg(%)
NCC 58.15 -12.23
Financial Tech. 99.95 -11.55
Welspun Corp 100.55 -8.76
Lycos Internet 23.50 -7.84
H D I L 57.00 -7.77
> More on BSE Gainers
Company Price() Chg(%)
NCC 58.10 -12.04
Financial Tech. 100.10 -11.14
Welspun Corp 100.20 -9.36
Himatsing. Seide 178.65 -7.86
H D I L 57.00 -7.62
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price