Micro irrigation company Jain Irrigation today reported a 57.55% growth in profit after tax (PAT) at Rs 82.4 crore for the first quarter ended June 30 on standalone basis over the same quarter last year.
Standalone PAT for Q1 FY11 stood at Rs 52.3 crore, the company said in a release here.
"This has been another good quarter of overall performance. After seeing a subdued export market for a while, we have now witnessed improved global sentiments and reasonable growth in our exports across the businesses," Jain Irrigation Managing Director Anil Jain said.
"We have a good amount of orders in hand across the businesses which will help us augment overall performance in coming quarters," he said.
Net sales of the company went up by 29.3% to Rs 931.6 crore in the quarter under review compared to Rs 720.6 crore.
The company's board approved a dividend of Re 1 per equity share of Rs 2 each for the year ended March 31, 2011, the release added.