Prakash Industries Q4 Results: Net profit up 53% YoY, dividend of ₹1.2 per equity share declared

Total income of the diversified mining and steel company in the fourth quarter of FY24 dropped 11% to ₹901.45 crore from ₹1014.14 crore in the corresponding quarter of FY23. Sequentially, the company’s total income increased marginally by more than 1% against ₹891.93 crore in the December quarter.

In FY24 the company’s total income increased more than 8% to ₹3,741.56 crore compared to ₹3,455.14 crore in the preceding fiscal year.

The iron and steel major’s PAT (Profit After Tax) grew more than 53% year-on-year to ₹88.77 crore in the March quarter of FY24 against ₹57.96 crore in the same period a year ago. The company’s PAT surged more than 10% from ₹80.56 crore in the December quarter. In FY24, the company’s PAT grew by nearly 83% to ₹348.17 crore from ₹190.48 crore in FY23.

The company said in a release, dated May 17, that in FY24 it has achieved net sales of ₹3678 crore and an EBITDA (Earnings before Interest, Tax, Depreciation, and Amortisation) of ₹556 crore. The company’s operating margin also grew from 12% to 13.4%.

The board of the company has recommended a dividend of ₹1.2 per equity share. The face value of the company’s shares is ₹10, which translates to a dividend payout of 12%.

Shares of Prakash Industries closed 7.5% higher at ₹174.9 apiece on the NSE.