DB Corp shares extend gains for fourth day after strong Q4 results: PAT jumps three times, ₹8 per share dividend announced

Shares of DB Corp Ltd surged 5% in intraday trade on Wednesday to hit the upper circuit limit at ₹293.35 apiece on the NSE after the company reported a multifold jump in its net profit for the quarter ended March 2024.

DB Corp Ltd shares closed in the green on the NSE extending gains for the fourth straight day.

The diversified media conglomerate released its financial results for the fourth quarter of FY24 and the entire financial year on May 22. The company’s Board also recommended an interim dividend for FY24.

DB Corp consolidated revenue from operations for the March quarter of FY24 grew more than 16% to ₹617.13 crore compared to ₹530.95 crore in the same quarter of the preceding financial year. However, on a quarter-on-quarter basis, the company’s revenue from operations fell more than 4% from ₹644.71 crore in the three-month period ending December 2023.

For the full financial year 2023-24, the company’s revenue from operations grew nearly 13% to ₹2,402.08 crore compared to ₹2,129.21 crore in FY23.

DB Corp reported a three-fold jump in consolidated net profit at ₹122.52 crore in Q4FY24, up 198.78% year-on-year compared to ₹41.03 crore in the year-ago quarter. Sequentially, the company’s net profit declined marginally by more than 1% from ₹123.97 crore in Q3FY24.

In FY24, the company’s net profit grew more than 151% to ₹425.52 crore against ₹169.08 crore in the preceding fiscal year.

DB Corp announces an interim dividend of ₹8 per share

The company also informed the stock exchanges that its Board of Directors recommended an interim dividend of ₹8 per equity share of a face value of ₹10 each for FY24.

The record date for the payment is June 3, 2024, and the payment of dividend will be made on or before June 20.