Miniratna CPSE Bharat Dynamics declares Rs. 8.15 dividend amid weak Q3 earnings
1 min read . Updated: 07 Feb 2023, 08:18 PM IST
Premium- A Miniratna Public Sector Company within the Indian Government's Ministry of Defence is Bharat Dynamics Limited (BDL).
A Miniratna Public Sector Company within the Indian Government's Ministry of Defence is Bharat Dynamics Limited (BDL). Amid weak Q3 earnings, the mid-cap company, which has a market worth of ₹16,222.22 Cr, today announced a dividend of ₹8.15 per share for the financial year 2022–23.
The company has said today in a stock exchange filing that “we wish to inform that the Board of Directors in its 274th Meeting held on 07.02.2023 has declared Interim Dividend for the Financial Year 2022-23 @ Rs. 8.15/- per share of the face value of Rs. 10/- each. The Company has fixed 20 February, 2023 as “Record Date" for the purpose of payment of Interim Dividend on equity shares for the Financial Year 2022-23."
In Q3FY23, the company declared a net profit of ₹83.74 crore down by 60.73% YoY from ₹213.26 Cr in Q3FY22. Bharat Dynamics posted net revenue from operations of ₹461.55 crore down by 42.58% YoY from ₹803.90 Cr in the year-ago quarter. The company’s total expenses reached ₹392.09 crore, down by 27.39% in Q3 FY23 as compared to ₹540.02 Cr in Q3 FY22. Profit before tax reached ₹105.92 crore in the quarter ended December 2022, down by 64.52% from ₹298.54 crore in Q3 FY22. The EPS of Bharat Dynamics stood at ₹4.57 in Q3FY23 compared to ₹11.64 in Q3FY22.
"Due to the ongoing Russia-Ukraine war, there are delays in receipt of certain electronic components which has impacted the performance during the period and the company is exploring alternatives to mitigate the impact," Bharat Dynamics said in a statement.
The shares of Bharat Dynamics closed today on the NSE at ₹897.05 apiece level, down by 1.23% from the previous close of ₹908.20. The stock recorded a total volume of 9,78,167 shares compared to the 20-Day average volume of 4,30,901 shares. The stock made a 52-week-high of ₹1,026.95 on (27-Oct-2022) and a 52-week-low of ₹406.50 on (24-Feb-2022).
