This dividend declaration was initially approved during the company's board meeting in August, contingent on the shareholders' approval. Subsequently, the shareholders gave their approval during the company's Annual General Meeting held on 30th September 2023.
Earlier in August, the company announced stellar earnings for Q1FY24. Total Revenue witnessed stellar growth of 148.9 per cent in Q1 FY24 to Rs. 79.8 Crore from Rs. 32.1 Crore in Q1 FY23 on a YoY basis respectively. EBITDA increased by 415.3 per cent from ₹1.4 Crore in Q1 FY23 to ₹7.1 Crore in Q1 FY24, margins improved from 4.3 per cent in Q1 FY23 to 8.9 per cent in Q1 FY24 on account of increasing scale of operations and higher value products. Net PAT stood at ₹4.1 Crore in Q1 FY24, compared to ₹0.4 Crore in Q1 FY23, margins improved from 1.1 per cent in Q1 FY23 to 5.1 per cent in Q1 FY24.
This story is from the October 23, 2023 edition of Dalal Street Investment Journal.
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This story is from the October 23, 2023 edition of Dalal Street Investment Journal.
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