GODREJ AGROVET Q4 NET PROFIT TRIPLES, AGRI MAJOR DECLARES DIVIDEND OF ₹10/SHARE

Agri-business company Godrej Agrovet Ltd on Wednesday (May 8) reported a threefold year-on-year (YoY) jump in net profit at ₹65.5 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Godrej Agrovet posted a net profit of ₹23.5 crore, the company said in a regulatory filing. The company's revenue from operations increased 1.9% to ₹2,134.3 crore against ₹2,095 crore in the corresponding period of FY23.

At the operating level, EBITDA jumped 98.1% to ₹148 crore in the fourth quarter of this fiscal over ₹74.7 crore in the year-ago period.

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The EBITDA margin stood at 6.9% in the reporting quarter versus 3.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a final dividend at the rate of 100% on the equity share capital of the company, i.e., ₹10 per equity share of the face value of ₹10, for the financial year ended March 31, 2024, subject to the approval of the shareholders at the ensuing 33rd annual general meeting.

The results came after the close of the market hours. Shares of Godrej Agrovet Ltd ended at ₹581.70, up by ₹19.50, or 3.47%, on the BSE.

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2024-05-08T13:41:03Z dg43tfdfdgfd