Kirloskar Ferrous Announces Interim Dividend Amidst Q3 Results
Kirloskar Ferrous Industries Ltd. made headlines [[today]] with its announcement of an interim dividend. The company’s board declared an interim dividend of Rs 3 per equity share, a welcome piece of business news for shareholders. The record date for determining eligible shareholders is February 14th, with dividend payments expected on or before March 3rd.
Q3 Financial Performance: A Mixed Bag
This dividend announcement came on the same day as the release of Kirloskar Ferrous’ financial results for the quarter ending December 31st, 2024. While the company saw a 3.8% increase in consolidated revenue, reaching Rs 1,608 crore compared to Rs 1,548 crore in the same quarter last year, the net profit took a hit. The consolidated net profit showed a significant 48.4% decrease, falling from Rs 105 crore to Rs 54.3 crore. This is a key development in the latest business news.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) also experienced a considerable decline of 25.1%, dropping from Rs 232 crore to Rs 174 crore. The EBITDA margin consequently fell from 15% to 10.8%. These figures provide crucial market analysis insights into the company’s current financial standing.
Share Market Reaction and Future Outlook
Before the release of these quarterly results, Kirloskar Ferrous shares closed at Rs 544.05 apiece on the BSE, slightly up by 0.2%. This is in contrast to the benchmark Sensex, which saw a 1.81% rise on the same day. Despite the positive close, it’s important to note that the stock has seen a considerable decline of nearly 15% over the past 12 months. Investors will be closely monitoring the company’s performance and future business updates to gauge its long-term prospects. The latest news indicates a need for careful market analysis before making any investment decisions.
This development is part of the larger picture of the Indian business environment. Staying updated on the latest business news is vital for investors and business professionals alike. This information forms a crucial part of any market analysis. What are your thoughts on this business news? Share your opinions in the comment section below.
