Team News Riveting
Raipur, May 6
The Board of Directors of the Prakash Industries Limited (PIL) will meet on May 17 to consider the financial results for the fourth quarter (Q4) and financial year ended March 31, 2024.
The diversified company having interests in steel, power and mining, is also gearing up to reward its shareholders with a dividend, which is likely to be considered and recommended by the board in the meeting.
“We are pleased to intimate that a meeting of the Board of Directors of the Company will be held on Friday, the 17th May, 2024 at New Delhi to consider, inter alia, Audited Financial Results for the quarter and year ended 31st March, 2024 and to consider and recommend dividend, if any on the equity shares of the Company for the financial year ended 31st March, 2024,” PIL said in a regulatory filing today.
The company has recorded impressive performance, both financial and physical, in the last two quarters of the financial year 2023-34. In the third quarter (Q3) ended December 31, 2023, the company pegged the net profit at Rs 80.56 crore, which was 77.95 per cent more compared to the corresponding period of previous year. The revenue of the company jumped 16.79 per cent since last year same period to Rs 891.93 crore in Q3.
PIL has posted over 100 per cent year-on-year (YoY) growth during the second quarter (Q2) and first half (HI) of the financial year 2023-24. During the quarter ended June 30, 2023, the company achieved net sales of Rs 889 crore and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of Rs 144 crore, reflecting growth of 14 per cent and 37 per cent respectively over the corresponding quarter of last financial year. Profit after Tax for the quarter also grew by 103 per cent on YoY basis to Rs 89 crore.
