Jain Irrigation today reported 23.96 per cent growth in its consolidated profit after tax (PAT) at Rs 77.6 crore for the quarter ending March 31, compared to the same period last year.
The company's PAT stood at Rs 62.6 crore during the corresponding quarter of 2015-16, Jain Irrigation said in a release issued here.
Revenue of the company grew by 9.58 per cent at Rs 2,286.5 crore in the quarter under review compared to Rs 2,086.5 crore in the same quarter of the previous financial year.
The company's PAT surged to Rs 176.2 crore during the 2016-17, from Rs 48.7 crore in FY16.
Its revenue went up by 6.98 per cent to Rs 6939.3 crore in FY17, against Rs 6486.5 crore in FY16.
"We are happy to report first ever Rs 7,000 crore total income by the company. We are pleased to have recorded multifold earning growth in FY17 and 24 per cent earning growth in the fourth quarter. We achieved significant planned deleveraging in the fourth quarter by Rs 557 crore. Growth for micro irrigation business in the fourth quarter was stupendous and with strong order book FY18 looks very positive," Jain Irrigation CEO Anil Jain said.
He said the company is starting on a multi-year growth opportunity in domestic and international irrigation infrastructure space.
"There is a need to watch out for GST rollout and weather events," he added.
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