Jain Irrigation reported a loss of Rs 16 crore for the quarter ended in June against a profit of Rs 82 crore in the same quarter last year, Latest stock price

Jain Irrigation reported a loss of Rs 16 crore for the quarter ended in June against a profit of Rs 82 crore in the same quarter last year, Latest stock price

Jain Irrigation has reported a loss of Rs 16 crore in the June quarter against a net profit of Rs 82 crore recorded in the same period last year.

Sales were down nine per cent at Rs 865 crore (Rs 951 crore) due to planned reduction in micro irrigation business as part of effort to revamp its business model. The company also registered a forex loss of Rs 12 crore. The board has recommended a dividend of Re 1.

The company intends to raise Rs 1,150 crore ($210 million) by a mix of equity, convertible bonds and external commercial borrowings.

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