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Jain Irrigation shares soar over 12 % after Q4 earnings

LiveMint logoLiveMint 25-05-2017 PTI

New Delhi: Shares of Jain Irrigation Systems Ltd on Thursday soared over 12% after the company posted a 24% jump in consolidated net profit during the fourth quarter of 2016-17.

The stock jumped 12.32% to settle at Rs96.65 on the BSE. During the day, it zoomed 13.24% to Rs97.45. On the NSE, shares of the company rose sharply by 12.39% to end at Rs96.55. The company’s market valuation rose by Rs488.5 crore to Rs4,447.50 crore. In terms of volume, 26.97 lakh shares of the company were traded on the BSE and over 2 crore shares changed hands on the NSE during the day.

Jain Irrigation Systems on Wednesday posted a 24% jump in consolidated net profit at Rs77.63 crore during the fourth quarter of 2016-17 on strong sales in the high-tech agri input business. The company’s net profit stood at Rs62.58 crore in the same quarter last year. Total income rose to Rs2,297.86 crore in the quarter ended on 31 March from Rs2,095.71 crore in the year-ago period.

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