Mumbai: Drip irrigation systems manufacturer Jain Irrigation on 11 May reported a 35% growth in profit after tax in 2006-07 at Rs91 crore against the previous fiscal.
The company’s revenues rose 41% to Rs1,208 crore while profit before tax expanded 97% to Rs126.1 crore for the period under review, a release said.
The company’s micro-irrigation division showed a robust 74% growth while its fruit processing division grew by 102%.
In Q4 FY 07, the company’s sales increased 36% to Rs449.4 crore on the back of an excellent performance by its micro-irrigation and fruit processing business.
Commenting on the results, the company’s Managing Director, Anil Jain, said: “Increased focus on agriculture by all stakeholders of the economy and increased allocation of funds for rural and urban infrastructure development in India from Governments as well as banks augurs well for the company to maintain a higher growth on a sustainable basis.”