By Malvika Gurung
Investing.com -- The electrical engineering company Bharat Bijlee (NS: BBJL ) has announced a dividend of 400% for the financial year ended March 31, 2023, while releasing its earnings for the quarter and year ending in March.
Bharat Bijlee’s Board of Directors recommended a dividend of Rs 40 per fully paid-up equity share at a face value of Rs 10 each, translating to a dividend of 400% for the financial year 2022-23.
The company has said that if the dividend is approved by its shareholders at the ensuing 76th Annual General Meeting (AGM), it will be paid within 30 days from the date of the said AGM.
Ace investor Ashish Kacholia holds a total of 1,01,350 equity shares of Bharat Bijlee.
As per the small-cap company’s March 2023 quarter shareholding pattern, Kacholia owns a 1.79% stake in the leading engineering services company.
At the stock’s current market price, Kacholia’s total holding in Bharat Bijlee stands at Rs 30.95 crore. It hit a 52-week high of Rs 3,069.95/share on May 26, 2023.
The company’s net profit for the quarter ended March 2023 jumped 131.35% to Rs 26.86 crore on a YoY basis and net income rose 22.3% YoY to Rs 438.13 crore.
Its earnings per share (EPS) in the quarter rallied 131.4% YoY to Rs 47.53.
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