Venky’s shares gain after Q4 net profit increases nearly 33%, board recommends ₹7 dividend per share

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

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Venky’s (India) Ltd reported its fourth quarter earnings on Friday, May 10. Its net profit increased 32.8% to ₹33.5 crore from last year’s ₹25.2 crore.

The company’s board also recommended a dividend of ₹7 per equity share (70%) for the 2023-24 fiscal year. If approved, the dividend will be paid within the statutory time limit after the annual general meeting, the company said in a stock exchange filing.

However, its revenue in the March quarter was down 14.2% from last year’s ₹1,044.5 crore to ₹898.9 crore.

Its earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at ₹50 crore in the March quarter, up 38.5% from the previous year’s ₹36 crore.

Its margin also increased to 5.6% from last year’s 3.5%.

The company’s shares were trading 4.4% at ₹1,835.95 apiece at 1.50 pm on Friday, May 10. The stock has gained 14.4% in the past year.

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