Bharat Dynamics announced its Q4FY23 results on May 25, reporting a net profit of ₹152.7 crore, with a decline of 42.3 per cent, compared to ₹264.4 crore in the corresponding period last year. The Miniratna public sector undertaking (PSU) reported a revenue of ₹796.8 crore in the January-March quarter, registering a drop of 41.2 per cent, compared to ₹1,355.8 crore in the year-ago period.
The company’s board recommended a final dividend of ₹1.20 per share, of the face value of ₹10 each for fiscal 2022-23, upon the approval of shareholders.
“The board of directors of the company have recommended a final dividend of ₹1.20 per share (face value of ₹10 each) for the year ended 31.03.2023. This dividend upon approval by the shareholders at the ensuing Annual General Meeting(AGM) will be paid within 30 days from the date of AGM,” according to its regulatory filing.
On the operating front, the leading missile manufacturer’s earnings before interest, taxes, depreciation, and amortization (EBITDA) in the fourth quarter came in at ₹182 crore, registering a decline of 52 per cent, compared to ₹378.8 crore in the same period last year.
Total income for the quarter under review stood at ₹835.42 crore, compared to ₹1,409.7 crore in the year-ago period. The company paid an interim dividend of ₹8.15 per equity share of ₹10/- each for the year 2022-23 in February 2023.
‘’Due to the ongoing Russia-Ukraine war, there are delays in receipt of certain electronic components and explosives from foreign OEM’s which has impacted the performance during FY 2022-23 and the company is exploring alternatives to mitigate the impact,” Bharat Dynamic said in a regulatory filing to the stock exchanges.
On May 25, shares of Bharat Dynamics settled 5.38 per cent lower at ₹1,007.75 apiece on the BSE.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.