MUMBAI, (GNI):- Jain Irrigation Systems Limited, the largest Micro Irrigation Systems Company in the country and second largest globally, has announced unaudited standalone and consolidated results for third quarter (Q3) and nine months of FY 2019 ending on 31st December 2018.
Q3 (also 9 months EBIDTA) Consolidated EBIDTA rose by 13.97% at INR 821.3 crore (INR 8213 million) while Q3 Consolidated EBIDTA was INR 272.8 crore. The Q3 FY2019 PAT increased by 36% to reach INR 91.5 crore and 9 months PAT was INR 198.1 crore.
Key Highlights: Q3 Consolidated Revenue rose by 9.22% to reach INR 2037.7 crore while Q3 Standalone revenue increased by 8.84% to touch INR272.2 crore. Q3 Consolidated EBIDTA increased by 10.56% to reach INR 201.1 crore. Q3 Consolidated PAT rose by 35.95% to touch INR 91.5 crore while Q3 PAT declined by 2.63% to touch INR 63 crore.
The Global order book now stands at INR 5192.8 Crore. Sales growth was maintained despite decreasing polymer prices. EBITDA margin for Standalone in Q3 is higher y-o-y due to prudent sales mix.
Quoted by Anil Jain, Vice Chairman and Managing Director, Jain Irrigation Systems Ltd. “We are extremely pleased to share the results of the Company for third quarter and nine months ending December 31, 2018. The Company has performed on expected lines in this quarter with decent growth in business and profitability in India and overseas. The focus on working capital management and operational efficiency continues and we believe that this would bring positive impact on the bottom-line in the forthcoming quarters. Management is making focused efforts to manage sustainable growth during these volatile times. The Company is a leader in terms of the ESG (Environmental, Social and Governance) criteria, with its strong and deep linkages with the farmers and by continued working towards sustainability goals,” the press release said.ends