Auto components and equipment company Bosch Ltd has announced its March quarter results and declared a dividend of ₹170 per share.
This dividend is the lowest in the last two years, as earlier this year, Bosch had declared a dividend of ₹205 per share.
Dividend Details
Bosch stated in its exchange filing that a final dividend of ₹170 per equity share has been recommended.
The total dividend payout for the financial year 2023-24, including an interim dividend of ₹205 paid in March 2024, is ₹375 per equity share.
This final dividend is subject to the approval of shareholders.
If approved in the upcoming Annual General Meeting, the payment will be made on or after August 13, 2024.
For comparison, last year,
Bosch declared dividends of ₹280 in July, ₹200 in February 2023, and ₹110 per share in July 2022.
March Quarter Results
Bosch reported strong financial results for the March quarter.
The company’s profit rose by 41.5% for Q4FY24, reaching ₹564.4 crores compared to ₹398.9 crores in the same period last year.
Revenue grew 4.2% year-on-year to ₹4233 crores from ₹4063 crores.
Additionally, Bosch’s EBITDA increased by nearly 6.7% to ₹557 crores, with margins improving from 12.9% to 13.2%.
Guruprasad Mudlapur, Managing Director of Bosch, commented, “Despite several headwinds impacting the industry, we concluded FY23-24 with strong performance
and significant revenue growth.” The share price of Bosch on the NSE closed with a slight decline at ₹30,795.20.
Current Status of Sensex and Nifty
On Friday, the benchmark indices Sensex and Nifty closed with a slight decline.
Sensex closed down 7.65 points or 0.01 percent at 75,410.39 points, after reaching an all-time high of 75,636.50 during trading, up 218.46 points or 0.28 percent.
Nifty crossed the 23,000 point mark for the first time in early trade but closed at 22,957.10 points, down 10.55 points or 0.05 percent.
