Jain Irrigation Systems Ltd's Q1FY19 consolidated net profit rises 81.28% yoy to Rs85.20cr : Beats Estimates

The company’s consolidated revenue stood at Rs2,092cr, up 24.43% yoy.

Aug 15, 2018 02:08 IST India Infoline Research Team

Jain Irrigation Systems Ltd Q1FY19

Consolidated Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 2,092 24.4
EBITDA 290.80 16.6
EBITDA Margin (%) 13.9 [93]
Net Profit 85.20 81.3
***EBITDA margin change is bps

Jain Irrigation Systems Ltd. Q1FY19 results beat the estimates. Revenue grew by 24.4% yoy to Rs2,092cr against Rs1,681.2cr in Q1FY18, beating the estimate (Rs1,962cr). EBITDA for the quarter grew by 16.6% yoy to Rs290.8cr against Rs249.4cr. EBITDA margin declined by 93bps yoy to 13.9%. Net profit for the quarter grew by 81.3% yoy to Rs85.2cr against Rs47cr last year, beating the estimate (Rs54cr).

• Global order book stood at Rs4,637.4cr.
• Recently bagged Micro Irrigation order of Rs975cr from Madhya Pradesh Government.
• Stable margins witnessed in the Pipes business despite volatile crude prices and continued inflow of pipe orders from Infrastructure Sector.

Technical View:

Jain Irrigation Systems Ltd ended at Rs. 83.20, down by 0.2 points or 0.24% from its previous closing of Rs. 83.40 on the BSE.
The scrip opened at Rs. 83.90 and touched a high and low of Rs. 84.15 and Rs. 81.35 respectively. A total of 87,01,424 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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