![Tata Technologies announces dividend of Rs 10.05 per share](https://img.etimg.com/thumb/msid-109820028,width-210,height-158,imgsize-30094,resizemode-75/tata-technologies-announces-dividend-of-rs-10-05-per-share.jpg)
“Dividends are declared based on profits available for the distribution. On May 03, 2024, the board of directors proposed a final dividend of Rs 8.40 per share and a one-time special dividend of Rs 1.65 per share in respect of the year ended March 31, 2024. The total proposed dividend for the year ended March 31, 2024, that is the final dividend and one-time special dividend amounts to Rs 10.05 per share, subject to approval of shareholders at the annual general meeting, and once approved, would result in a cash outflow of approximately Rs 407. 70 crore,” said the company in a filing to the exchanges.
Tata Technologies on Friday reported a consolidated net profit of Rs 157.24 crore for the quarter ended March 31, 2024, down 27% on a year-on-year basis versus Rs 216.56 crore reported in the year-ago period.
The consolidated revenue from operations for the reported quarter stood at Rs 1,301.05 crore, lower by 7.22% on a YoY basis against Rs 1,402.39 crore reported in the year-ago period.
Tata Tech was listed on the exchanges in November 2023. The stock has traded at a loss of 8% for the current calendar year and closed 0.4% lower on the BSE on Friday at Rs 1,086.
Also read: Adani Green Q4 Results: Consolidated PAT plunges 70% YoY to Rs 150 crore
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