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Jain Irrigation has reported that its net profit in the fourth quarter ended March 31, 2011 has fallen by seven per cent to Rs 109 crore (Rs 117 crore) due to higher finance charge of Rs 70 crore (Rs 50 crore). Revenue in the quarter under review was up 27 per cent at Rs 1,200 crore (Rs 947 crore).
In the financial year 2010-11, the net profit was up nine per cent at Rs 295 crore (Rs 271 crore) while revenue rose 21 per cent at Rs 3,251 crore (Rs 2,694 crore). The promoters have subscribed 6,100,000 equity warrants of Rs 228.15 each and deposited Rs 35 crore, which totals to 25 per cent of the total value. The company's shares on BSE were up 0.19 per cent at Rs 183 on Friday.
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