Home / Markets / Stock Markets /  Miniratna CPSE Bharat Dynamics declares Rs. 8.15 dividend amid weak Q3 earnings

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).

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).
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