 "Jain Irrigation Systems gains post Q2 earnings")
Don't want to miss the best from Business Standard?
Jain Irrigation Systems was trading higher by 4% at Rs 104 on BSE in an otherwise weak market after the company reported a consolidated net profit of Rs 28 crore for the quarter ended September 30, 2016 (Q2FY17). It had posted a net loss of Rs 5.4 crore in the same quarter last year.
Total income from operations grew 8.2% at Rs 146 crore against Rs 135 crore in the corresponding quarter of previous fiscal.
EBITDA ((earnings before interest, taxes, depreciation, and amortization) margin was at 13% as against 12.8% in Q2FY16.
“Double digit growth in micro irrigation and agro processing division in India coupled with strong growth in certain overseas markets for micro irrigation business, helped us achieve this performance,” Anil Jain, managing director and CEO of Jain Irrigation Systems said.
On back of adequate monsoon we expect robust positive business condition for next few quarters, he added.
The company has order book position of Rs 1,572 crore which consist of Rs 825 crore for hi-tech agri input products division and Rs 466 crore for agro processing division.
The stock hit an intra-day high of Rs 105 on BSE. At 10:56 am, a combined 6.58 million shares changed hands on the counter on BSE and NSE. The S&P BSE Sensex was down 1.4% or 373 points at 27,144.
Total income from operations grew 8.2% at Rs 146 crore against Rs 135 crore in the corresponding quarter of previous fiscal.
EBITDA ((earnings before interest, taxes, depreciation, and amortization) margin was at 13% as against 12.8% in Q2FY16.
“Double digit growth in micro irrigation and agro processing division in India coupled with strong growth in certain overseas markets for micro irrigation business, helped us achieve this performance,” Anil Jain, managing director and CEO of Jain Irrigation Systems said.
On back of adequate monsoon we expect robust positive business condition for next few quarters, he added.
The company has order book position of Rs 1,572 crore which consist of Rs 825 crore for hi-tech agri input products division and Rs 466 crore for agro processing division.
The stock hit an intra-day high of Rs 105 on BSE. At 10:56 am, a combined 6.58 million shares changed hands on the counter on BSE and NSE. The S&P BSE Sensex was down 1.4% or 373 points at 27,144.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%