Macrotech Developers Q4 earnings: PAT up 38% YoY, Board declares 1:1 bonus issue and dividend of 20%
Macrotech Developers is a large cap company recorded a market cap of ₹43,744.02 Cr during Friday closing. The company has declared its Q4FY23 earnings and has issued two corporate actions for eligible shareholders.
The company said in a stock exchange filing that its Board of Directors have approved “Issuance of bonus equity shares in the proportion of 1 new fully paid up equity share of ₹10 each for every existing 1 equity share of ₹10 each held by the members of the Company as on the record date, subject to shareholders’ approval through postal ballot.” The total number of securities proposed to be issued via bonus issue is 48,18,05,547 fully paid-up equity shares and the 1:1 bonus issue will be issued out of share premium and capital redemption reserve account available as per the audited financial statements of the company for the financial year ended March 31, 2023. The company said the estimated date by which such bonus shares would be credited/dispatched is fixed within 2 months from the date of Board’s approval, i.e. latest by June 21, 2023.
The Board of Directors “Recommended a final dividend of ₹2 i.e. 20% per equity share of 10/- each of the Company on pre bonus paid up equity share capital (to be adjusted proportionately for bonus issue). Dividend will be paid to the shareholders holding equity shares on the record date to be determined by the Company after approval of the shareholders at the ensuing 28th Annual General Meeting,” informed Macrotech Developers to stock exchanges.
Macrotech Developers recorded a consolidated revenue from operations of ₹3,255.38 Cr during the quarter ended March 2023, down by 5.50% YoY from ₹3,444.56 Cr during the year-ago quarter. The company said its net income reached ₹3,271.71 Cr during Q4FY23 as against ₹3,481.92 Cr during Q4FY22.
Its consolidated net expenses stood at ₹2,630.52 Cr during the quarter under review, down by 1.83% YoY from ₹2,679.61 Cr reported in the same quarter of FY22. The consolidated net profit of Macrotech Developers reached ₹746.18 Cr during Q4FY23, up by 38.70% YoY from ₹538.02 Cr during Q4FY22. The EPS of Macrotech Developers stood at ₹15.45 during the quarter ended March 2023 as compared to ₹11.12 recorded during the year-ago quarter.
On Friday, the shares of Macrotech Developers closed on the BSE at ₹907.95 apiece level, down by 3.68% from the previous close of ₹942.60.
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