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.