Jain Irrigation net profit up 73% at Rs43 crore
Jain Irrigation Systems Ltd, the largest micro irrigation company in the country and the second largest player globally, has announced good standalone results for the quarter ended 30th September 2009.
Key highlights of the company’s performance during this period include a 19% increase in net sales for the quarter which stood at Rs550 crore. The company also witnessed an improved performance across all its key business verticals. While its MIS business recorded a growth of 45%, its pipe business grew by 14% followed by its agro processing unit which saw a 13% growth.
The company has also announced a Profit Before Tax (PBT) of Rs63 crore for this quarter, which is an increase of 152%. Net profit grew by 73% and was pegged at Rs43 crore, against Rs25 crore achieved in the same period last year.
Overall the company expects to continue on its growth path given the sustained growth in the domestic demand and a growing rural economy.