Jain Irrigation Systems today said it has registered a marginal growth of 4.5 per cent in net profit at Rs 29.56 crore for the quarter ended June 30 due to unrealised notional forex loss of Rs 22.04 crore.
The net profit stood at Rs 28.2 crore during the corresponding period last year, the company said in a release to the Bombay Stock Exchange.
The company registered 45 per cent growth in net sales to Rs 474.31 crore, against 327.4 crore in the year-ago period.
While the domestic sales have grown at 56.7 per cent at Rs 374.5 crore, the exports have grown 12.9 per cent at Rs 99.7 crore, it said.
"Our company has given good operating performance during this quarter despite daunting and volatile external environment in relation to polymer prices, currency rates availability of fruits," company's Managing Director Anil Jain said.
The consolidated net profit for the year 2007-08 went up by 59 per cent at Rs 132.4 crore, against Rs 83.3 crore during the same period previous year.
The net income for the period grew 58 per cent to Rs 2,234.5 crore, against Rs 1,414.3 crore during the same period last year.
The company has declared a dividend of Rs 2.2 on shares of Rs 10 each (22 per cent), the release added. Shares of the company closed at Rs 490, down 0.87 per cent on BSE.
