Jain Irrigation Q2 net loss to Rs 29.5 crore

NEW DELHI: Jain Irrigation has reported a net loss of Rs 29.5 crore in the September quarter against that of Rs 23.6 crore in the year-ago period.

Net revenue during the quarter under review rose to Rs 1,345.3 crore from Rs 1,293.6 crore in the year-ago period, the company said in a statement.

Last week, the company had announced plans to raise Rs 792 crore by issuing equity shares in the company and its food subsidiary JFFFL to agri-business funding firm Mandala Capital and promoters.

Jain Irrigation is engaged in manufacturing of micro- irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs since last 34 years.