06 Dec 2019 | 2:26 PM

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COMPANYNEWS
Jain Irrigation posts Q2 net loss of Rs 113.11 cr
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Published on 11-15-2019
The company reported standalone net loss during the quarter stood at Rs 113.11 crore compared to net profit of Rs 45.57 crore in the previous year quarter. 


Net revenue of the company declined substantially by 58.24 per cent at Rs 395.80 crore in July-September quarter of this fiscal as against Rs 947.71 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 43.04 per cent to Rs 454.44 crore from Rs 797.79 crore in year ago period.


Other Income dipped by 6.20 per cent at Rs 19.68 crore versus (Sep`18 Rs 20.98 crore).


Operating Profit slipped by 139.11 per cent to Rs -58.64 crore as against Rs 149.92 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 193.68 per cent in September quarter.


Interest grew by 18.71 per cent y-o-y to Rs 90.41 crore while Taxation decreased by 994.43 per cent at Rs -56.17 crore (Sep`18 Rs 6.28 crore).