Quarterly Results: Jain Irrigation Systems Ltd
Bhagyashree Vivarekar / 11 Nov 2016
Jain Irrigation Systems Ltd., is currently trading at Rs. 102.55, up by 3.05 points or 3.07% from its earlier closing of Rs. 99.5 on the BSE. Jain Irrigation has posted a net profit of Rs 28.05 cr as against a net loss of Rs 5.42 cr during the same quarter of previous year.
Technical View:
Jain Irrigation Systems Ltd., is currently trading at Rs. 102.55, up by 3.05 points or 3.07% from its earlier closing of Rs. 99.5 on the BSE.
The has touched a high and low of Rs. 103 and Rs. 100.05 respectively, after opening at 100.9. By far 3761300(NSE+BSE) shares were traded on the counter; and the stock is currently trading below its 50 DMA.
Consolidated Results Q2FY17:
Jain Irrigation Systems Ltd’s Q2FY17 consolidated numbers have beaten Bloomberg estimates. Revenue is in conjunctin with the Bloomberg estimates of Rs 1468 cr. Company’s EBITDA is 66.8% higher than the estimated figure of Rs 115 cr. Company’s net profit stands 122.6% above the estimates of Rs 13 cr.
Net revenue stands at Rs 1464.6 cr which climbed 8.8% during the same quarter of previous year. This was supported by 10.8% dip in cost of materials consumed.
EBITDA has soared by 24% yoy to Rs 191 cr and EBITDA margins have improved 161 bps yoy to 13%.
Jain Irrigation has posted a net profit of Rs 28.05 cr as against a net loss of Rs 5.42 cr during the same quarter of previous year.
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