Jain Irrigation Q1 PAT seen up 12.9% YoY to Rs. 50.1 cr: KR Choksey

A farmer channels water to irrigate his wheat field on the outskirts of Ahmedabad, India, December 15, 2015. India's Prime Minister Narendra Modi will recalibrate budget priorities in 2016 to focus on social initiatives, such as the country's first major crop insurance scheme, while capping previously prioritised infrastructure spending, officials say. Modi splurged on roads and railways this year in a strategy to spur economic growth. But it came partly at the expense of federal programmes for farmers and the poor, suffering through back-to-back drought years. Picture taken December 15, 2015. REUTERS/Amit Dave - GF10000266582

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KR Choksey has come out with its first quarter (April-June’ 18) earnings estimates for the Mid Cap sector. The brokerage house expects Jain Irrigation to report net profit at Rs. 50.1 crore up 12.9% year-on-year (down 46% quarter-on-quarter).

Net Sales are expected to increase by 16.9 percent Y-o-Y (down 29.3 percent Q-o-Q) to Rs. 1,964.9 crore, according to KR Choksey.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 10.7 percent Y-o-Y (down 35.2 percent Q-o-Q) to Rs. 259.4 crore.

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