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Micro—irrigation solutions provider, Jain Irrigation Systems today reported 76 per cent fall in standalone net profit at Rs 41.90 crore for the fourth quarter ended March 31, 2013.
It had clocked a net profit of Rs 173.12 crore in the same quarter of the 2011—12 fiscal, the company said in a filing to the BSE.
Total income rose to Rs 1,265.84 crore in the quarter as against Rs 1,234.47 crore in the year ago period.
For the full fiscal 2012—13, the company’s consolidated net profit decreased to Rs 30.8 crore from Rs 223.49 crore in the 2011—12 fiscal. However, total income increased to Rs 5,036.39 crore from Rs 4,932.87 crore in the review period.
“The year was challenging due to a multitude of factors, including drought in some states, change in business model, higher polymer and energy costs,” its Managing Director Anil Jain said in a statement.
Shares of the company settled at Rs 68.60, up1.63 per cent in on the BSE.
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