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Jindal Saw to consider stock split next week; shares jump over 6%
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2 min read | Updated on August 07, 2024, 15:16 IST
SUMMARY
Jindal Saw last week reported a 70.5% year-on-year rise in its net profit for the quarter ended June 30, 2024 (Q1 FY25).
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The company's revenue increased by 12% year-on-year. (Representative image)
Shares of Jindal Saw were trading over 6% higher at ₹638.60 apiece on the BSE during the last 30 minutes of the session on Wednesday, August 8. The stock jumped after the company informed exchanges that the board would consider a stock split on August 14.
The statement read, "A meeting of the Board of Directors of the Company will be held on Wednesday, August 14, 2024, at New Delhi, inter alia, to consider and approve the proposal for alteration in the equity share capital of the company by sub-division or split of existing equity shares having a face value of Rs. 2/- each, fully paid up, into a face value of ₹ 1/- each, fully paid up."
Jindal Saw Q1 Results
Revenue increased by 12% year-on-year for the three months ended June, reaching ₹4,939 crore.
The company's EBITDA, or earnings before interest, taxes, depreciation, and amortisation, rose 38.2% year-on-year to Rs 840 crore. The EBITDA margin increased to 17%, in comparison to 13.8% over the same period last year, as per news reports.
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