Jain Irrigation Systems shares soar 10% after co turns profitable in March quarter

Meanwhile, for the full year FY21, net loss narrowed to Rs 368 crore versus Rs 700 crore in FY20. Revenue also declined in FY21 to Rs 5,666 crore from Rs 5,922 crore in FY20.

After the results, Vice Chairman and Managing Director of the company, Anil Jain, said, "The level of activity was higher in the fourth quarter as compared to the earlier quarters. This was also due to relatively benign COVID conditions in the quarter. On the profitability front also, there has been a positive turnaround in the quarter in both standalone and consolidated basis. This is a reflection of the sustained efforts and focuses of the management in the last year to turn around, despite the challenges on external and internal fronts."

The present order book of the firm is at Rs 4,188 crore which gives comfort on revenue visibility. "The demand environment is conducive for the company’s products, given the fact that the agriculture sector is showing good traction in the economy," Jain said.

The firm has also been able to reduce the consolidated net debt by Rs 425 crore on a YoY basis.