Jain Irrigation Q4 net profit surges 29% to Rs 159 cr

Jain Irrigation Systems today reported a 29.28 per cent jump in its standalone net profit to Rs 159.44 crore in the fourth quarter of fiscal 2017-18, mainly on the back of higher sales.

Its net profit stood at Rs 123.32 crore in the same quarter previous fiscal, the company said in a regulatory filing.

Net income rose by 12.14 per cent to Rs 1,584.94 crore in the January-March quarter, compared t0 Rs 1,413.33 crore in the year-ago period.

Expenses too increased to Rs 1,417.97 crore from Rs 1,231.68 crore.

The board has recommended a dividend of Rs 1 per share, subject to approval of shareholders.

 

The company's scrip fell by 0.49 per cent to settle at Rs 60.75 apiece on the BSE today.