Jain Irrigation Systems Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 11, 2023 at 07:05 am
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Jain Irrigation Systems Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 20,166.4 million compared to INR 16,137.5 million a year ago. Revenue was INR 20,171.7 million compared to INR 16,197 million a year ago. Net loss was INR 488.5 million compared to INR 719 million a year ago. Basic loss per share from continuing operations was INR 0.8 compared to INR 1.39 a year ago. Diluted loss per share from continuing operations was INR 0.8 compared to INR 1.39 a year ago.
For the nine months, sales was INR 56,670.1 million compared to INR 50,358.6 million a year ago. Revenue was INR 56,813.1 million compared to INR 50,533.1 million a year ago. Net loss was INR 1,491.5 million compared to net income of INR 470.5 million a year ago. Basic loss per share from continuing operations was INR 2.4 compared to basic earnings per share from continuing operations of INR 0.91 a year ago. Diluted loss per share from continuing operations was INR 2.4 compared to diluted earnings per share from continuing operations of INR 0.91 a year ago.
Jain Irrigation Systems Limited is an India-based micro-irrigation company. The Company is engaged in providing solutions in agriculture, piping and infrastructure through manufacturing of micro irrigation systems, polyvinyl chloride (PVC) Pipes, high density polyethylene (HDPE) pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs. Its segments include Hi-tech Agri Input Products division, which include micro and sprinkler irrigation, solar Agri pump, integrated irrigation projects and tissue culture plants; Plastic division, which includes PVC piping products, polyethylene piping products, piping projects and plastic sheets; Agro Processing division, which includes fruits, onion products and biogas, and Other business division, which includes equipment manufacturing, solar thermal products, solar photovoltaic grid and off grid products and also includes solar power generation investments.