Jain Irrigation posts Rs 9.2 cr profit in Q3

Jain Irrigation Systems today reported consolidated net profit of Rs 9.21 crore for the quarter ended on December 31, against a loss of Rs 39.68 crore in the year ago period.
Total income increased to Rs 1,384.15 crore for the quarter ended December 31, 2015 from Rs 1,297.46 crore for the quarter ended December 31, 2014, the company informed the BSE.
Jain Irrigation has signed an agreement with Hindustan Coca Cola Beverages, and Maharashtra Government for setting up of a juice manufacturing facility at Vidharbha to process oranges.
The project is expected to benefit 5,000 farmers with an average landholding of two acres each.

In November last year, the company had announced its plans to raise Rs 792 crore by issuing equity shares in the company and its food subsidiary JFFFL to agri-business funding firm Mandala Capital and promoters.