This Jindal Group stock rises on reporting a 142 per cent increase in Q4 net profit!
The company has shown stellar growth in profits and recommended dividend.
As the season of financial results is on, Jindal Saw Ltd has reported results for the fourth quarter that ended on March 31 2023.
In comparison to the same quarter last year, the company's net profit for the fourth quarter that ended on March 31, 2023, increased by 141.54 per cent to Rs 294.2 crore from Rs 121.8 crore on a consolidated basis. In Q4FY23, the company's total revenue climbed by 31.28 per cent to Rs 5,266.8 crore from Rs 4,011.7 crore in the similar quarter the year prior.
The company reported a 17.80 per cent increase in net profit for the year ended March 31, 2023, from Rs 375.9 crore to Rs 442.8 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company's total revenue climbed by 34.16 per cent, reaching Rs 18,046.4 crore as compared to Rs 13,451 crore for the year ended March 31, 2022.
Board recommended a dividend of Rs 3 per equity share for the financial year ended March 31, 2023 subject to the approval of members.
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Today the scrip opened at Rs 182 and closed at Rs 185.75 up by 6.36 per cent. Total of 8,04,148 shares were traded over the counter at BSE. The company has a market cap of around Rs 5,900 crore and it has a 52-week high of Rs 198.25 and a 52-week low of Rs 75.10.
Jindal Saw Limited is a leading global manufacturer and supplier of iron and steel pipes and pellets.