comScore
Active Stocks
Fri Sep 29 2023 15:59:14
  1. Tata Steel share price
  2. 129 1.78%
  1. NTPC share price
  2. 245.65 3.3%
  1. Power Grid Corporation Of India share price
  2. 199.85 -0.45%
  1. State Bank Of India share price
  2. 598.7 1.48%
  1. Wipro share price
  2. 406.25 0.11%
Business News/ Markets / Stock Markets/  NRB Bearings zooms 11% after Q4 PAT grows 96% and Board declares 205% dividend
Back

NRB Bearings zooms 11% after Q4 PAT grows 96% and Board declares 205% dividend

During Wednesday's closing session, the market capitalization of the small-cap company NRB Bearings reached ₹1,561.42 Cr.

The shares of NRB Bearings closed on the BSE at  ₹161.10 apiece on Wednesday up by 11.68% from the previous close of  ₹144.25. (PTI)Premium
The shares of NRB Bearings closed on the BSE at 161.10 apiece on Wednesday up by 11.68% from the previous close of 144.25. (PTI)

During Wednesday's closing session, the market capitalization of the small-cap company NRB Bearings reached 1,561.42 Cr. Across all mobility applications, NRB Bearings is a well-known industry leader in needle roller bearings and standard cylindrical roller bearings.

The Board of Directors “Approved declaration of interim dividend of Rs. 4.10/- (Rupees Four and Ten Paise Only) per equity share of Rs. 2/- each, i.e., 205% (Two Hundred and Five percent). As informed, the interim dividend shall be paid to all members whose names appear on the Register of Members as on the Record Date, i.e., June 9, 2023. The interim dividend shall be paid within 30 days of the declaration thereof as per the statutory timeline mentioned in the Companies Act, 2013," said NRB Bearings in a stock exchange filing.

The Board of Directors “Recommended Dividend of Rs. 1/- (Rupee One Only) per equity share of face value Rs. 2/- each i.e. 50% (Fifty percent), for the financial year ended March 31, 2023. The same will be paid out to the Members of the Company within 30 (thirty) days of its declaration and approval by the Members at the ensuing 58th Annual General Meeting of the Company," said NRB Bearings in a stock exchange filing.

During Q4FY23, the company recorded consolidated revenue from operations of 312.44 Cr up by 22.74% YoY from 254.54 Cr in Q4FY22.  Its net income stood at 315.21 Cr compared to 260.76 Cr in the year-ago quarter. NRB Bearings said its consolidated net profit reached Rs. 33.34 Cr during the quarter ended March 2023 up by 96.46% YoY from Rs. 16.97 Cr recorded during the quarter ended March 2022. 

The shares of NRB Bearings closed on the BSE at 161.10 apiece on Wednesday up by 11.68% from the previous close of 144.25.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

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).
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 31 May 2023, 08:19 PM IST
Next Story
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App