This prominent company has declared a dividend of Rs 80 per share following its stellar performance in the March quarter.
Bajaj Auto Limited released its quarterly results for the fourth quarter on Thursday, April 18, 2024. The company witnessed a significant increase in net profit by 18% to Rs 2,011.43 crore during the quarter spanning from January to March, compared to Rs 1,705 crore in the same period last year. With such remarkable profits in the March quarter, the company has announced a substantial dividend for its investors, along with declaring the record date for the dividend.
Following impressive profits in the March quarter, Bajaj Auto has declared a substantial dividend. The company plans to distribute a dividend of Rs 80 per share to its investors. As per market disclosures, the company's board has declared an Rs 80 dividend per share in exchange for shares with a face value of Rs 10, marking the conclusion of the financial year ending on March 31, 2024. This translates to investors reaping the benefits of an 800% dividend yield.
As per the filing details, Bajaj Auto has finalized the record date for June 14, 2024. Hence, only shareholders holding the company's shares until June 14 will be entitled to receive this dividend. Previously, the company had announced a dividend of Rs 140 on April 25, 2025. Similarly, in April 2022, the company declared a dividend of Rs 140. This marks the fifth consecutive year the company has consistently declared dividends.
"Bajaj Auto has experienced significant revenue growth, reporting a remarkable 30% increase in earnings during the March quarter compared to the same period last year. The company's revenue surged to Rs 11,554.95 crore, marking a substantial rise from the previous year's earnings of Rs 8,929 crore. This notable performance underscores Bajaj Auto's resilience and adaptability in navigating market challenges and capitalizing on emerging opportunities. The impressive revenue figures reflect the effectiveness of the company's strategic initiatives and its ability to meet evolving consumer demands in the automotive sector. Bajaj Auto's robust financial performance further solidifies its position as a leading player in the industry, highlighting its capacity for sustained growth and profitability. Moving forward, the company aims to build upon this momentum, leveraging its strengths to drive innovation, expand its market reach, and deliver long-term value to its stakeholders. With a focus on continuous improvement and customer satisfaction, Bajaj Auto remains poised for continued success in the dynamic automotive landscape."
Copyright © News India © 2024