Navin Fluorine declares final dividend of ₹7 per share, posts drop in Q4 profit

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Fluorochemicals maker Navin Fluorine International Ltd on Tuesday (May 7) reported a 48.4% year-on-year (YoY) drop in net profit at ₹70.4 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Navin Fluorine International posted a net profit of ₹136.4 crore, the company said in a regulatory filing. The company’s revenue from operations slipped 13.6% to ₹602 crore against ₹697 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA tanked 45.5% to ₹70.4 crore in the fourth quarter of this fiscal over ₹136.4 crore in the corresponding period in the previous fiscal.

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The EBITDA margin stood at 18.3% in the reporting quarter against 28.9% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board of directors has recommended a final dividend of ₹7 per equity share of face value of ₹2 each (350% of the face value) for the financial year 2023-2024 subject to the approval of the members of the company at its forthcoming 26th annual general meeting to be held on August 1, 2024.

July 5, 2024, is fixed as the record date for ascertaining eligibility for the payment of the final dividend for the financial year 2023-2024 if declared. On declaration, the final dividend will be paid on or after Wednesday, August 7, 2024.

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The results came after the close of the market hours. Shares of Navin Fluorine International Ltd ended at ₹3,381.75, down by ₹54.65, or 1.59%, on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow