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Business News/ Markets / Stock Markets/ IT stock declares ₹20 per share dividend, PAT rises 22% YoY in Q2FY23

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IT stock declares ₹20 per share dividend, PAT rises 22% YoY in Q2FY23

2 min read 29 Oct 2022, 05:45 PM IST Join us

Vipul Das

Allsec Technologies Ltd. is an IT-related local firm with a market worth of Rs. 798.03 crore.

On Friday the shares of Allsec Technologies Ltd closed on the NSE at ₹524.30 apiece, up by 0.019% from the previous close of ₹524.20.

Allsec Technologies Ltd. is an IT-related local firm with a market worth of Rs. 798.03 crore. Allsec is a market pioneer in outsourcing solutions and provides services for robust business transformation. The company also announced an interim dividend of Rs. 20 per share in addition to its Q2 financial performance.

The company has said in a stock exchange filing that “This is to inform you that the Board of Directors of the company, at its meeting held today, October, 28, 2022 (Friday) inter-alia, has Declared an Interim Dividend at Rs. 20/- per equity share of face value of Rs. 10/- each for the financial year 2022-23. The Record Date for the purpose of payment of the Interim Dividend is fixed as Monday, November 7, 2022. The Interim Dividend will be paid within 30 days from the date of declaration as per the provisions of Companies Act, 2013, through electronic mode or by dividend warrants, as applicable."

The firm reported a net profit of ₹15.87 crore on a consolidated basis in Q2FY23 as opposed to ₹12.95 crore in Q2FY22, reflecting a YoY growth of 22.55%. Sales went up 22.15% YoY to ₹94.20 crore in the quarter that ended September 2022 compared to ₹77.12 crore recorded in the same quarter last year. In Q2FY23, the firm recorded a profit before tax (PBT) of ₹18.53 Cr, up 16% YoY from Q2FY22's PBT of ₹15.96 Cr.

Allsec Technologies' standalone net profit jumped 17.70% YoY to ₹5.12 crore in the quarter that ended September 2022 from ₹4.35 crore in the year-ago quarter. Sales went up by 24.12% YoY to ₹66.99 crore in the quarter that ended in September 2022 compared to ₹53.97 crore reported in Q2FY22. Profit before tax (PBT) for the company in Q2FY23 amounted to ₹6.90 Cr, an increase of 7% year-on-year from Q2FY22's PBT of ₹6.47 Cr.

On Friday the shares of Allsec Technologies Ltd closed on the NSE at ₹524.30 apiece, up by 0.019% from the previous close of ₹524.20. During its last trading session, the stock recorded a total volume of 7,953 shares compared to the 20-Day average volume of 7,654 shares. In the last 1 year, the stock has fallen 8.01% and on a YTD basis, the stock has fallen 22.46% so far in 2022. For the quarter that ended September or Q2FY23, the company reported a promoter shareholding of 73.39%, FIIs holding of 0.03%, and a public stake of 26.59%.

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ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).