Jain Irrigation shares soar over 12 pc after Q4 earnings

Shares of Jain Irrigation Systems

today soared over 12 per cent after the company posted a 24

per cent jump in consolidated net profit during the fourth

quarter of 2016-17.

The stock jumped 12.32 per cent to settle at Rs 96.65 on

BSE. During the day, it zoomed 13.24 per cent to Rs 97.45.

On NSE, shares of the company rose sharply by 12.39 per

cent to end at Rs 96.55.

The company's market valuation rose by Rs 488.5 crore to

Rs 4,447.50 crore.

In terms of volume, 26.97 lakh shares of the company were

traded on BSE and over 2 crore shares changed hands on NSE

during the day.

Jain Irrigation Systems yesterday posted a 24 per cent

jump in consolidated net profit at Rs 77.63 crore during the

fourth quarter of 2016-17 on strong sales in high-tech agri

input business.

The company's net profit stood at Rs 62.58 crore in the

same quarter last year.

Total income rose to Rs 2,297.86 crore in the quarter

ended March from Rs 2,095.71 crore in the year-ago period.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)