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

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,” 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
Business Standard
177 22
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,” 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,” 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
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard