 "Jain Irrigation rallies over 15% post Q4 results")
Shares of Jain Irrigation Systems have soared 16% to Rs 65.75 on the NSE after the company reported a consolidated net profit of Rs 98.5 crore for the quarter ended March 2015 (Q4) against Rs 75.3 crore in the year-ago quarter.
Consolidated revenue grew 12% to Rs 2,104 crore from Rs 1,880 crore in the corresponding quarter of the previous fiscal.
Pipe business has started seeing growth based on new orders from infrastructure players. Food business has achieved high growth rate for whole year with increase in domestic as well as export market, said Anil Jain, Managing Director and CEO of Jain Irrigation Systems.
The company reduced its consolidated debt by Rs 362 crore during the quarter, he added.
The stock opened at Rs 62 and touched a high of Rs 66.60 on the NSE. The trading volumes on the counter jumped more than five-fold, with a combined 12.54 million shares changing hands till 0956 hours on the NSE and BSE.
Consolidated revenue grew 12% to Rs 2,104 crore from Rs 1,880 crore in the corresponding quarter of the previous fiscal.
Pipe business has started seeing growth based on new orders from infrastructure players. Food business has achieved high growth rate for whole year with increase in domestic as well as export market, said Anil Jain, Managing Director and CEO of Jain Irrigation Systems.
The company reduced its consolidated debt by Rs 362 crore during the quarter, he added.
The stock opened at Rs 62 and touched a high of Rs 66.60 on the NSE. The trading volumes on the counter jumped more than five-fold, with a combined 12.54 million shares changing hands till 0956 hours on the NSE and BSE.
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