Jain Irrigation reports 98% decline in Q3 net

13 Feb 2012

Jain Irrigation Systems has reported results for third quarter ended December 31, 2011.

The company has posted a fall of 98.27% in its net profit to Rs 1.24 crore for the quarter ended December 31, 2011 as compared to Rs 71.47 crore for the same quarter in the previous year. However, total income has increased by 13.37% to Rs 835.05 crore for quarter under review as compared to Rs 736.57 crore for the quarter ended December 31, 2010.

Jain Irrigation is a diversified company with a market capitalization of Rs 7,500 crore approx. Jain’s product portfolio includes Irrigation Products, Piping Products, Plastic Sheets, Dehydrated Foods, Fruit Puree and Juice concentrates. It also has a growing presence in the renewable energy segment and is the largest player in applications of solar energy in agriculture and rural areas.

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