Bosch declares dividend: Auto components and equipment company Bosch Ltd has released its March quarter results. Along with this, Bosch has announced a dividend of ₹ 170 per share, which is the lowest in the last two years. Earlier this year, Bosch had declared a dividend of ₹205 per share.
What did the company say
Bosch said in its exchange filing that a final dividend of ₹170 per equity share has been recommended. The total dividend payout for FY 2023-24 (including interim dividend of ₹205 paid in March 2024) is ₹375 per equity. The final dividend is now subject to shareholder approval. If declared by the shareholders at the upcoming Annual General Meeting, the payment will be made on or after August 13, 2024. Let us tell you that last year, the company declared a dividend of ₹ 280 in July, ₹ 200 in February 2023 and ₹ 110 per share in July 2022.
march quarter results
Bosch also announced its financial results. The company reported a strong 41.5% growth in profit at ₹564.4 crore for Q4FY24, compared to ₹398.9 crore in the same period last year. Bosch’s revenue increased 4.2% to ₹4233 crore from ₹4063 crore year-on-year. The company’s EBITDA increased by about 6.7% to ₹557 crore while margin improved to 13.2% from 12.9%.
“Despite several headwinds impacting the industry, we concluded FY23-24 with a strong performance and notable revenue growth,” said Guruprasad Mudlapur, Managing Director, Bosch. Let us tell you that the share price of Bosch on NSE closed at ₹ 30,795.20 with a slight fall.
Situation of Sensex and Nifty
Let us tell you that on Friday the standard indices Sensex and Nifty closed with a slight decline. The Sensex closed at 75,410.39, down 7.65 points or 0.01 percent. During trading, it had also reached its all-time high of 75,636.50, rising by 218.46 points or 0.28 percent. Nifty also crossed the 23,000-mark for the first time in early trade. Under selling pressure, it closed at 22,957.10 points with a slight decline of 10.55 points or 0.05 percent.