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Jain Irrigation rallies on strong Q4 results

The company said it plans to improve its debt equity ratios and finance cost through better management of working capital.

SI Reporter  |  Mumbai 

Jain Irrigation Systems has rallied 7% to Rs 117 after posting 39% year-on-year increase in consolidated net profit to Rs 75.34 crore for the fourth quarter ended March 31, 2014 due to higher sales. It had clocked a net profit of Rs 54.05 crore in the same period last year.

Total income during January-March quarter 2013-14 rose to Rs 1,833 crore compared to Rs 1,682 crore in the same period in 2012-13.

The company said it plans to improve its debt equity ratios and finance cost through better management of working capital.

The company's net debt at the end of quarter ended March 2014 was at Rs 2,820 crore, which is a reduction of 9% from Rs 3,110 crore seen in the December 2013 quarter.

The stock opened at Rs 114 and touched a 52-week high of Rs 119 on NSE. A combined 4.88 million shares changed hands on the counter so far on the NSE and BSE.

First Published: Fri, May 23 2014. 10:51 IST
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