Jain Irrigation Systems slumps on dry Q4 results

Reuters | Updated on May 31, 2019 Published on May 31, 2019

Shares of irrigation equipment maker Jain Irrigation Systems Ltd fell as much as 11 per cent to ₹48.4; their biggest intraday loss in nearly 4 months. Its march-quarter consolidated profit fell 39 per cent, revenue fell to ₹2,583 crore ($370.30 mln) from ₹2,748 crore, the company reported on Thursday.

The stocks of Jain Irrigation Systems were trading 9.13 per cent lower at ₹49.25.

Jain Irrigation's closest Rival UPL Ltd also reported weak results two weeks ago, as profits more than halved.

JAIR shares fell 22.13 per cent this year as of last close, while those of UPL rose 32.65 per cent ($1 = 69.7550 Indian rupees)

Published on May 31, 2019
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