Jain Irrigation posts stellar PAT growth
Jain Irrigation Systems consolidated revenue for the third quarter of FY18 came in at Rs. 1,889.63 crore, registering 27.8 per cent yoy increase. This was primarily driven by 48.6 per cent yoy growth in hi-tech agri inputs products business which contribute around half of total sales.
EBITDA for the quarter rose by 17.9 per cent yoy to Rs. 222.15 crore with a corresponding margin contraction of 99 bps. EBITDA margin for the quarter stood at 11.8 per cent. This margin contraction was led by higher other expenses as a proportion to sales.
The PAT for the quarter came in at Rs. 67.28 crore, yoy increase of 868.1 per cent. This sharp jump in net profit was driven by significant rise in other income. Other income in the quarter stood at Rs. 38.23 crore as against Rs. 4.1 crore in the corresponding quarter of last year.