Tag: dividend

The share price of midcap IT firm Persistent Systems gained over 7 percent on January 19 after the company registered an 8.2 percent sequential growth in profit at Rs 238 crore for the quarter that ended December 31, 2022. The company had reported a net profit of Rs 176.4 crore in the same quarter of the previous fiscal year. The company's earnings were majorly in line with the analysts' estimates, which pushed the stock to move higher. Persistent clocked a 45.4% increase in the revenue from operations at Rs 2,169.3 crore during the October-December 2022 period, which stood at Rs 1,491.7 crore in the year-ago period, whereas the operating EBITDA of the company stood at 401.5 crores in Q3FY23, up 59.9% YoY. The IT company also announced an interim dividend of Rs 28 a share for FY23.The total expenses of the company spiked 43.83% YoY to Rs 1,849.6 crore during the quarter. Read more

IT primary Infosys Ltd on Thursday reported an 11% jump in consolidated net profit at Rs 6,021 crore for the quarter ending September 30, 2022, up 11.1 percent from Rs 5,421 core reported in the same quarter of the previous year. It reported a 23.4 percent YoY jump in consolidated revenue for the September quarter to Rs 36,538 crore as against Rs 29,602 crore in Q2FY22. Numbers were in-line with projections. A poll of analysts had projected a 24 percent year-on-year (YoY) growth in revenue and 11 percent in net profit. Infosys has also announced a share buyback worth Rs 9,300 crore. Under the buyback program, the price will not exceed Rs 1,850 per equity share. The price is 30% higher than the company shares' closing price of Rs 1,422 apiece on Thursday. The IT major will also pay an interim dividend totaling Rs 6,940 crore to the shareholders at Rs 16.5 per equity share. Read more

IT firm HCL Tech on Wednesday reported a 7% rise in consolidated net profit at Rs 3,489 crore for the quarter ending September 30, 2022. It reported a consolidated net profit of Rs 3,259 crore in the year-ago period. Revenue from operations of the company stood at Rs 24,686 crore, clocking a 19.5 percent growth over Rs 20,655 crore last year. Sequentially, revenue rose 5.2 percent quarter on quarter (QoQ) from Rs 23,464 crore. Profit climbed 6.27 percent compared to Rs 3283 crore in the previous quarter. HCL Tech has delivered yet another solid performance this quarter with revenue growing at 3.8% QoQ and 15.8% YoY in constant currency and EBIT at 18% up 93 bps QoQ. Our services business grew 5.3% QoQ and 18.9% YoY in constant currency, led by strong demand for Cloud, Engineering, and Digital services.HCL Tech said it won 11 large deals – 8 in services and 3 in products. The total contract value of new deal wins was at $ 2,384 million, up 16 percent QoQ, up 6 percent YoY. Read more

Shares of Ratnamani Metals and Tubes Ltd jumped to hit a 52-week high level of ₹1,920 apiece on the BSE in Thursday's early deals as the stock started trading ex-bonus, a day ahead of its record date for the bonus shares issue. The company will issue one bonus share for every two shares held by the existing shareholders. The bonus issue of shares was announced on May 18, 2022. The record date for the bonus issue is July 1. The Bonus Shares will be issued out of Securities Premium Reserve, Free Reserves, Retained Earnings available as at March 31, 2022. The Bonus shares will be credited/dispatched within 2 months from the date of board approval i.e. latest by July 17, 2022, it had said.“The Bonus shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted," the company added. Read more

Shares of Ashok Leyland zoomed 9 per cent to Rs 129.35 on the BSE in intra-day trade on Friday as the commercial vehicle maker posted a net profit of Rs 241.17 crore in the March 2021 quarter. The company had incurred a net loss of Rs 57.32 crore in the same quarter previous year. The Company's Market share improved 0.8 per cent to 28.9 per cent in the March 2021 quarter (Q4FY21) from 28.1 per cent in December 2020 quarter. The revenue from the operations surged 80 per cent to Rs 7,000.49 crore in the March 2021 quarter from Rs 3,872 crore in the same quarter previous year. Earnings before interest, tax, depreciation and amortization (EBITDA) were at Rs 533.7 crore and the margin expanded to 7.6 percent from 4.7 percent (YoY).For the full financial year 2020-21, the company has posted a net loss of Rs 313.68 crore as against a profit of Rs 239.65 crore in the financial year 2019-20. Read more

Shares of Bharat Electronics (BEL) gains 12 percent of Rs 170 on the BSE in intra-day trade on Wednesday and hit over a three-year high after the company reported a strong set of numbers for the quarter ended March 2021. The state-owned aerospace and defense electronics company reported a net profit of Rs 1352.38 crore in the quarter ended March 2021, up 30.73 percent year-on-year (YoY) compared to Q4 FY20 of Rs 1034.52cr. The company has achieved a turnover of Rs6757.05cr for the quarter ended 31st March 2021, as against Rs5725.49cr for the corresponding quarter of the previous year up 18 percent. In Q4FY21, BEL reported a 30.7 percent year-on-year (YoY) jump in profit after tax (PAT) at Rs 1,352 crore on the back of healthy revenue growth and operational performance. Besides, the company has recommended a final dividend of Rs 1.20 per equity share 120 percent of Rs 1 each for the financial year 2020-21. Read more

Jubilant Foodworks on Tuesday reported a 395.5 percent year-on-year rise in its net profit to Rs 104.3 crore for the quarter ending March. The net profit of the company was predicted to be Rs 116.5 crore by the analysts. The company reported revenue from operations of Rs 1,025.9 crore for the reported quarter, up 14.3 percent on-year but slightly below Street’s estimates. The company’s board also approved a final dividend of Rs 6 per share for the financial year ended March 2021. The company’s earnings before interest, tax, depreciation, and amortization rose 47 percent year-on-year to Rs 249.2 crore. Some-store sales growth for Domino’s in the quarter stood at 11.8 percent as against negative 3.4 percent in the year-ago period. On a like-to-like basis, growth was at 15.1 percent as against negative 2.3 percent in the year-ago period. Read more

Shares of Bata India surged 6 percent to Rs 1,657.50 on the BSE in intra-day trade on Thursday despite the company reporting a poor set of numbers in the quarter ended March 2021. The Company expects that it would be able to revive its revenue growth trajectory as and when the impact of the Covid-19 phases out. The stock of the footwear company was trading close to its 52-week high level of Rs 1,705 touched on January 11, 2021. According to a regulatory filing by the company to the stock exchanges, Bata India reported a net profit of ₹ 29.47 crores on a consolidated basis in the March quarter of fiscal 2020-21. The country's largest shoemaker's net profit declined 23.3 percent in the March quarter of fiscal 2021. It reported a net profit of ₹ 38.40 crores in the corresponding quarter of the previous fiscal year. The company's revenue from operations was down to ₹ 589.90 crores in the fourth quarter, compared to ₹ 620.57 crores in the same quarter of the previous fiscal. Read more

Shares of India’s largest public sector bank State Bank of India gained 5 percent after the bank on Friday reported an 80 per cent surge in standalone net profit of Rs 6,450.75 crore for quarter ended March 2021 (Q4FY21) aided by fewer provisions on bad loans. State Bank of India (SBI) had registered a profit of Rs 3,580.81 crore during January-March period of 2019-20, the lender said in a regulatory filing.The jump in profit was supported by net interest income and other income, while the low base in the year-ago quarter added to the jump.Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore, from Rs 76,027.51 crore. The domestic net interest margin expanded 17 bps year-on-year to 3.11 percent in Q4FY21 but fell 23 bps sequentially. With regard to asset quality, gross non-performing assets (NPAs) of the bank improved at 4.98 per cent of gross advances as on March 31, 2021, as against 6.15 per cent by the same period of 2020. Read more

Shares of Coforge IT firm gained 17 percent intraday on May 6 and hits 52 weeks high of Rs 3449 after the company declared a17 percent rise in consolidated net profit at Rs 133 crore in the three months ended March 2021. The company had posted a net profit of Rs 113.6 crore in the year-ago period, Coforge said in a regulatory filing. Consolidated revenue grew 7.1 percent sequentially in dollar terms to USD 172.1 million during the January-March quarter. Revenue in constant currency (CC) terms grew 5.1 percent over the preceding quarter. In rupee terms, revenue was up by 6 percent sequentially and up by 13.7 percent year-on-year (YoY) at Rs 1,261 crore during Q4FY21. The company’s profit after tax (PAT) for the quarter increased 17 percent year-on-year to Rs 133 crore. Read more

Shares of Infosys were down 6 per cent at Rs 1,320 on the BSE in intra-day trade on Thursday a day after the IT giant posted a 17 per cent year-on-year growth in net profit at Rs 5,076 crore for the March quarter of the financial year 2020-21 (Q4FY21) as against Rs 4,321 crore posted in the same period last fiscal. Also on account of profit booking and in the overnight trade, Infosys ADR plunged 6 per cent to $1731 per share. Consolidated revenue from operations grew by 1.5 per cent sequentially to Rs 26,311 crore, while consolidated revenue in constant currency grew by 2 per cent and the topline growth in dollar terms was at 2.8 per cent quarter-on-quarters. Infosys’ board has also approved a Rs 9,200 crore buyback of equity shares from the open market. The company will buy back shares at a maximum of Rs 1,750 apiece, a premium of 25% on the current market price of Rs 1,398 apiece and also recommended a final dividend of Rs 15 per equity share.

Hindustan Unilever (HUL) share price fell over 2 per cent to Rs 2,133 apiece in intraday deals on BSE on Tuesday after the Company reported an 8.7 per cent year-on-year (YoY) rise in its net profit at Rs 2,009 crore for the second quarter of the current fiscal year (Q2FY21). The company had logged a profit of Rs 1,848 crore in the year-ago period. Total sales (revenue) of the company increased 16 per cent during the quarter to Rs 11,442 crore, against Rs 9,852 crore in the year-ago period. The board also declared an interim dividend of Rs 14 per share. The record date for the purpose of determining the entitlement for payment of the interim dividend is fixed as October 29, 2020. HUL’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter came at Rs 2,869 crore, which registered a 17 per cent on-year growth. Read more

HCL Technologies share price fell 4.4 % to Rs 821 apiece on BSE after the IT company announced July-September quarter results. HCL Tech Q2 net profit came at Rs 3,142 crore in July-September quarter, rising 18.5 per cent year on year and up 7.4 per cent on a sequential basis. The company had posted a net profit of Rs 2,651 crore in the corresponding period of the last year. Revenue for the quarter rose 6.1 per cent YoY to Rs 18,594 crore compared with Rs 17,528 crore sales the company reported in the year-ago quarter. The operating margin of the IT services provider improved 110 basis points sequentially to 21.6 per cent in the July-September period—a 22-quarter high. The dollar revenue growth stood at 6.4% at 2,507 million and the company posted constant currency revenue growth at 4.5 per cent. The company has also declared an interim dividend of Rs 4 per equity share of Rs 2 each for FY21. The company has signed 15 transformational deals in the quarter ended September 2020 Read more

The current dividend season has turned out to be unexpectedly generous despite a poor show by India Inc in the fourth quarter and fiscal year ended March 2020. The combined dividend payout by India’s top listed companies, which are part of the BSE500 Index, for FY20 was up 6.5 percent, the fastest growth in the past three years. And, equity investors should thank cash-rich biggies such as Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Nestlé, and Bajaj Auto for this. However, excluding consumer and software services companies, dividend payout is down 17.6 percent year-on-year (YoY) to Rs 1.12 trillion in FY20, from Rs 1.36 trillion a year ago. In contrast, these firms had raised the payout by 5.3 percent in FY19. Read more

Colgate-Palmolive on Thursday posted a 3.32 per cent year-on-year rise in net profit at Rs 204.15 crore for the quarter ended March 31 compared to Rs197.6cr for the same quarter of the previous year, due to falling in total expenditure. The company reported a 7.40 per cent YoY drop in net sales at Rs 1,062.4 crore with 8 per cent YoY decline in volumes due to the ongoing Covid-19 situation. For FY20, net profit was at Rs816.5cr as against the Rs775.6cr for the previous year. The company also declared a second interim dividend of Rs 16 per share amounting Rs 435.18 crore, the total dividend would be Rs 28 per share for the year 2019-20, said Colgate and will be paid on or after June 16, 2020, to those shareholders whose names are on the Register of Members of the Company as on June 2, 2020. Read more

Shares of Larsen & Toubro (L&T) Infotech gained 10 per cent to Rs 1,834 on the BSE on Wednesday after the firm reported a 12.9 per cent rise in net profit to Rs 427.5 crore for the quarter ended March 2020 compared to Rs 378.5 crore in the corresponding period. Revenue in Q4 stood at Rs 3,011.9 crore, up 21.2 per cent YoY against Rs 2,486 crore in the corresponding period last year. L&T Infotech reported a marginal increase of 0.3 per cent in its net profit at Rs 1,520.5 crore compared to Rs 1,515.5 crore in the previous fiscal. The company registered a revenue of Rs 10,878.6 crore, up 15.2 per cent YoY. The company's board also recommended a final dividend of Rs 15.50 per equity share of the face value of Re 1 each. The company won two large deals in Q4 with net-new TCV in excess of $100 million, culminating in a record eight large deal wins in FY20. Read more

Some of India's Top dividend-paying Company like HUL, Maruti Suzuki, Nestle, and Colgate-Palmolive are to save more than Rs 2,800 crore collectively after the government’s move to abolish the levy on distributing dividends. This Savings will either be used to increase dividend payouts for both local and overseas investors or be transferred to the overseas bases benefiting foreign shareholders. Data collected from the previous year’s annual reports of the top 25 MNC dividend payers showed that the companies had declared Rs 17,765 crore in aggregate dividends in FY19. They paid Rs 3,008 crore of dividend distribution tax at the rate of 17 per cent of the dividend. The dividend after-tax works out to Rs 14,756.6 crore. Of the above, the foreign investors received a dividend of Rs 9,154.8 crore based on their shareholding in the respective MNCs