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Leading micro-irrigation company Jain Irrigation on Friday reported 31 per cent growth in profit after tax at Rs 98.5 crore for the fourth quarter ending March 31.
The company’s PAT stood at Rs 75.3 crore in corresponding quarter of last financial year, Jain Irrigation said in a statement.
The firm posted 11.92 per cent revenue growth during the fourth quarter at Rs 2,104.1 crore as compared to Rs 1,879.9 crore in the previous year.
“We have maintained double digit growth despite significantly adverse agriculture situation in the country.
“Pipe business has started seeing growth based on new orders from infrastructure players. Food business has achieved high growth rate for whole year with increase in domestic as well as export market,” the company’s Managing Director Anil Jain said.
Further, he said that the company has also reduced its net debt by Rs 362 crore.
“Our outlook for the coming year is cautiously optimistic because of continued challenges in agriculture and rural area. Post monsoon, better clarity will emerge,” he added.
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