return to news
  1. Dalmia Bharat Sugar stock turns ex-dividend today, shares gain 2%

Market News

Dalmia Bharat Sugar stock turns ex-dividend today, shares gain 2%

Upstox

2 min read | Updated on July 03, 2024, 15:20 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Dalmia Bharat in May had announced a final dividend of ₹1.25 per share of the face value of ₹2 each for the financial year 2023-24. The record date for the dividend payout was fixed as July 3, 2024.

Stock list

Dalmia Bharat Sugar stock turns ex-dividend today, shares gain 2%

Dalmia Bharat Sugar stock turns ex-dividend today, shares gain 2%

Dalmia Bharat Sugar and Industries shares rose up to 2% in today's trading session as the stock turned ex-dividend.

Dalmia Bharat in May had announced a final dividend of ₹1.25 per share of the face value of ₹2 each for the financial year 2023-24. The record date for the dividend payout was July 3, 2024.

The company earlier paid a dividend of ₹3.75 per share in the March quarter. The total dividend for FY 2023-24 stood at ₹5 per share.

Dalmia Bharat Sugar and Industries' shares rose by 2% to a high of ₹423.20 on the NSE. Nearly 81,000 shares of the company changed hands on the bourse.

The stock was trading 0.66% higher at ₹417.5 on the NSE at 3:05 pm.

Dalmia Bharat is a leading sugar producer in India. It is a fully integrated player with 126 MW of co-generation capacity, an 850 KLPD distillery, and incineration boilers.

The company reported a 35% drop in revenue from operations for the March quarter of FY24 to ₹750 crore compared to ₹1,149 crore in the March quarter of FY23.

Its operating profit dropped by 33% to ₹139 crore in the last quarter of FY24 compared to ₹208 crore in the year-ago period.

EBITDA margins were higher at 19% against 18% in the March quarter of FY23.

Profit after tax also dropped by 25% to ₹93 crore in the March quarter compared to ₹125 crore in the fourth quarter of FY23.

Sugar sales volume declined 8% year over year to 1.11 lakh tonnes in the March quarter compared to 1.21 lakh tonnes in Q4 of FY23. Sales realisation, however, improved by 2% to ₹38.14 per kg in Q4FY24 against ₹37.23 per kg in Q4FY23.

For the full fiscal, domestic sugar sales volume rose by 8.4% to 4.24 lakh tonnes. Distillery sales volumes were up by 7% at 17.7 crore litres in FY24.

Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story