Jain Irrigation Systems posts ₹1.22 cr net loss in Dec qtr; revenue grows slightly

New Delhi, Jan 30 (PTI) Jain Irrigation Systems Ltd on Thursday reported a consolidated net loss of ₹1.22 crore for the quarter ended December.

Its net profit stood at ₹8.59 crore in the year-ago period.

Total income rose to ₹1,362.63 crore in the third quarter of this fiscal from ₹1,357.63 crore in the corresponding period of the preceding year, according to a regulatory filing.

Jain Irrigation Systems Vice Chairman and Managing Director Anil Jain said, "In the third quarter of FY25, the company reported a flattish performance with improvement in EBITDA margin."

In the past nine months, he said the company generated substantial cash from operations to deleverage and provide for future growth.

"The company anticipate a recovery in consumption, increased government capital expenditure, supported by strong agricultural production and a robust services sector going forward. We continue to focus on the trajectory of retail sales with better cash flow and consistent improvement in operating margin," Jain said.

He said the company expects strong performance in the next few quarters in most of our key areas, including revenue from piping, solar systems solutions and international sales.

"Despite the challenges in the broader economic environment, the company is well-positioned for continued growth with a focus on improving margins and cash flow," Jain added.

Jain Irrigation has manufacturing plants in 19 locations across the globe.

The company and its subsidiaries and associates are engaged in manufacturing of micro irrigation systems, PVC Pipes, HDPE Pipes, plastic sheets, agro-processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.