Defence stock Apollo Micro Systems jumps 8% after Q1 results today. Sets record date for 5% final dividend

Stock market news: Apollo Micro Systems share price witnessed strong buying during Friday deals. Today, the defence and aerospace stock opened with an upside gap at ₹113 apiece on the NSE and touched an intraday high of ₹120.40 per share, logging an 8 per cent intraday rise against Thursday's close price of ₹110.77 per share. The small-cap company was under the radar of Dalal Street Bulls as it fixed 9th August 2024 as the Q1 results 2024 date. After the announcement of Q1 results today, the stock witnessed strong buying during Friday deals. The defence and aerospace company reported substantial upside in net profit and net income YoY in Q1 results 2024. While declaring the Q1FY25 results today, the small-cap defence stock also declared a record date for the final dividend.

Apollo Micro Systems Q1 results in 2024

The company reported a net income of ₹92.03 crore, which stood at ₹58.06 crore in the corresponding period of the previous fiscal. So, the company has logged a 58.50 per cent YoY rise in total income during the April to June 2024 quarter. In the April-June 2024 quarter. The company's net profit stood at ₹8.61 crore, which stood at ₹1.80 crore in the first quarter of the previous financial year. So, the company's YoY net profit grew by 380 per cent during the first quarter of the current fiscal.

Apollo Micro Systems dividend record date

The small-cap company also declared a record date for the final dividend, saying, "This is further to outcome of Board meeting dated May 20, 2024, wherein it was informed that the Board of directors of the Company has inter-alia recommended final dividend for FY 2023-24, subject to approval of shareholders in the ensuing Annual General Meeting (AGM)," adding, "In this connection, it is at this moment informed that, pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has fixed Friday, September 20, 2024, as the Record Date for the purpose of determining the entitlement of the shareholders for the final dividend. The dividend, if approved by the shareholders at the ensuing AGM (to be held on September 27, 2024), will be paid/ dispatched within 30 days from the date of approval by the shareholders."

In its board meeting on 20th May 2024, the small-cap company declared a 5 per cent ( ₹0.05) per share final dividend to eligible shareholders for FY 2023-24.

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