The promoters of T D Power Systems will offload 24 per cent stake in the company via block deal, according to media report.
The promoters and shareholders of T D Power Systems is planning to offload 24.2 per cent stake in the company , amounting to ₹800 crore at a floor price of ₹214 per share, which would be a discount of around of 4 per cent as against the current market price.
On Wednesday, the company’s scrip ended 1.64 per cent down at ₹222.20 on BSE.
T D Power Systems posted over 43 per cent jump in its consolidated net profit at ₹35.35 crore in the March 2023 quarter year-on-year, mainly on the back of higher revenues.
The company had recorded a consolidated net profit of ₹24.66 crore in the quarter ended on March 31, 2022.
Total income rose to ₹256.31 crore in the quarter from ₹235.59 crore in the same period a year ago.
The consolidated net profit in the fiscal 2022-23 also rose to ₹96.81 crore from ₹70.64 crore in the previous financial year.
Total income rose to ₹892.05 crore in FY23 from ₹814.13 a year ago.
The company said its board has recommended a final dividend of ₹0.50 (50 paise) per equity share of face value of ₹2 each for the financial year ended March 31, 2023. The said dividend, if declared at the ensuing annual general meeting (AGM) of the company, will be paid within 30 days from the date of AGM.
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.
Updated: 29 Jun 2023, 06:49 PM IST