Jain Irrigation Q3FY22 Results: Loss narrows to Rs 72 crore; Revenue grew 21.17%

Jain Irrigation Systems on Saturday reported narrowing of its consolidated loss at Rs 72.03 crore for the third quarter ended on December 31, 2021, on the back of a higher income. Its loss stood at Rs 122.84 crore during the corresponding period of the previous financial year ended December 31, 2020.

The company's revenue from operations rose by 21.17 per cent during the quarter under review rose to Rs 1,613.75 crore compared to Rs 1,331.76 crore posted in the same period of the previous financial year.

Its EBITDA rose 52 per cent to Rs 108.23 crore in the reported quarter against Rs 71.2 crore posted last year.

Jain Irrigation Systems shares on Friday closed at Rs 45.05, up 3.44 per cent on BSE from the previous close.

Jain Irrigation Systems Ltd is a diversified entity with a turnover of over one billion US dollars. The company works with a Corporate Mission "Leave this world better than you found it". It has a global presence with 33 manufacturing bases spread over four continents. Its products are supplied to 126+ countries with able assistance from 11,000+ dealers and distributors worldwide. It has reached over 10 million farmers.

Jain Irrigation is the largest Micro-Irrigation company in the world. The Micro-Irrigation Division manufactures a full range of precision-irrigation products. Jain irrigation provides services from the soil survey, engineering design to agronomic support. It nurtures a sprawling 2300-acre Hi-Tech Agri Institute; a Farm Resource R&D, Demo, Training & Extension Centre. It also undertakes turnkey projects for agricultural and irrigation development with a holistic & integrated approach.