(MENAFN- IANS) Mumbai, July 26 (IANS) Jain Irrigation System's net profit for the first quarter of the current financial year (Q1 FY26) stood at Rs 11.19 crore, down 60 per cent sequentially, the company said in an exchange filing on Saturday.

The firm had posted a consolidated net profit of Rs 27.86 crore in the preceding quarter (Q4 FY25).

Jain Irrigation's profit also declined by over 8 per cent year-on-year (YoY) from Rs 12.23 crore in the same period a year ago (Q1 FY25).

Meanwhile, the company's total income stood at Rs 1,547.68 crore in the quarter under review, down Rs 202 crore from Rs 1,750.15 crore in Q4 FY25. At the same time, the revenue jumped by Rs 68 crore from Rs 1,479.24 crore in the first quarter of previous fiscal (Q1 FY25).

The total expenditure of the agricultural products manufacturer fell quarter-on-quarter to Rs 1,525.68 crore in the April-June quarter -- from Rs 1,703.71 crore in the January-March quarter. However, it rose over Rs 62.5 crore YoY from Rs 1,463 crore.

According to the filing, during the quarter ended June 30, the parent company received the balance 75 per cent of the allotment money, amounting to Rs 149.67 crore, from the warrant holders against the allotment of 42,786,430 ordinary equity shares on conversion of the equity share warrants.

"In Q1FY26, the Company experienced good demand for Micro Irrigation Systems, Tissue Culture, Exports and Solar Agri Pumps. We saw good growth in revenue and margins in Hi-Tech Agri division," said Anil Jain, Vice Chairman and Managing Director, Jain Irrigation Systems.

Due to the early monsoon in May, we saw an impact on demand for pipe and, slowdown in JJM in Maharashtra. Margins for the pipe business were also under pressure due to a lack of demand, he added.

Jain Irrigation Systems Limited manufactures Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, and Agro Processed Products. It also works in the renewable energy solutions sector.

Meanwhile, the shares of the company closed in green on Friday. The stock settled at Rs 52.28, up 0.27 per cent. The scrip fell by over 2.5 per cent in the last 5 days and in a month it slipped by over 9 per cent.

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