Jain Irrigation Systems Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 09, 2024 at 04:09 am EST
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Jain Irrigation Systems Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 13,577.7 million compared to INR 15,040.3 million a year ago. Revenue was INR 13,639.2 million compared to INR 15,264.3 million a year ago. Net income was INR 98.4 million compared to net loss of INR 488.5 million a year ago. Basic earnings per share from continuing operations was INR 0.14 compared to basic loss per share from continuing operations of INR 0.13 a year ago. Diluted earnings per share from continuing operations was INR 0.12 compared to diluted loss per share from continuing operations of INR 0.13 a year ago.
For the nine months, sales was INR 44,207.3 million compared to INR 40,021.7 million a year ago. Revenue was INR 44,326.7 million compared to INR 40,776.6 million a year ago. Net income was INR 540.3 million compared to net loss of INR 1,491.5 million a year ago. Basic earnings per share from continuing operations was INR 0.81 compared to basic loss per share from continuing operations of INR 1 a year ago. Diluted earnings per share from continuing operations was INR 0.77 compared to diluted loss per share from continuing operations of INR 1 a year ago.
Jain Irrigation Systems Limited is an India-based micro-irrigation company. The Company is engaged in providing solutions in agriculture, piping and infrastructure through manufacturing of micro irrigation systems, polyvinyl chloride (PVC) Pipes, high density polyethylene (HDPE) pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs. Its segments include Hi-tech Agri Input Products division, which include micro and sprinkler irrigation, solar Agri pump, integrated irrigation projects and tissue culture plants; Plastic division, which includes PVC piping products, polyethylene piping products, piping projects and plastic sheets; Agro Processing division, which includes fruits, onion products and biogas, and Other business division, which includes equipment manufacturing, solar thermal products, solar photovoltaic grid and off grid products and also includes solar power generation investments.