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New Delhi. Lumax, a company that makes components for automobile companies, has announced the results for the last quarter of the financial year 2023-24. The company’s profit increased by 22 per cent year-on-year to Rs 742 crore in the March quarter. After this, the company has also announced a dividend. The company will pay a dividend of Rs 35 per share. This is the largest dividend given by the company in 5 years. This dividend will depend on the approval of the shareholders in the AGM.
After approval in this AGM, the record date for the dividend will also be announced. If approved in the AGM, the dividend amount will be transferred to the investors’ account within 30 days. The company also gave a final dividend of Rs 27 in 2023. Earlier, the company had given a dividend of Rs 35 in 2019.
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Fall in shares
However, this time, despite the announcement of dividend, the company’s shares are seeing a decline. Today, this stock has closed at Rs 2675, down by about 6.50 percent on NSE. With the decline, the company’s market cap has also come down to around Rs 2500 crore. Apart from dividend, the company’s quarterly results have also been better. Despite this, its shares are seeing a decline today. Its shares have increased by about 47 percent in the last one year.
Quarterly Results
In the results released by the company for the March quarter, it has made 22 percent more profit than the same period last year. The company’s profit in the March quarter was Rs 742.7 crore. The company’s EBITDA margin increased by 33 percent to Rs 70 crore.
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Tag: Stock Market, Stock Tips
first published : May 27, 2024, 3:59 pm IST
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