Riding high: Pharma company soars as it announced 1250 per cent dividend; are you on board?

Company has also declared Q1FY24 results and over past six months it has given around 33 per cent return.

BSE Healthcare is performing well over the past six months. Yesterday Ajanta Pharma has declared Q1FY24 results for the quarter ended June, 30 2023. Company has also declared first interim dividend of Rs 315 crore for the year FY24. It is primarily engaged in development, manufacturing and marketing of speciality pharmaceutical quality finished dosages.

Company has declared dividend of Rs 25 per share which includes a regular dividend of Rs 10 per share and additional Rs 15 per share distributed as a special dividend on the commemoration of 50 years of the company. Company has face value of Rs 2 which make total dividend of 1250 per cent. It has fixed August, 4 2023 as the record date for payment of interim dividend and special dividend. Dividend will be paid on or after August 11 2023.

Talking about the financials for Q1FY24 on a consolidated basis in comparison to the same quarter last year, the company net profit increased by 19.18 per cent to Rs 208.12 crore from Rs 174.62 crore. In Q1FY24, the company's total net revenue increased by 7.02 per cent from Rs 983.69 crore to Rs 1052.79 crore in a similar quarter the year prior.         

Sequentially the company net profit for the quarter which ended on June 30, 2023, increased by 70.24 per cent from Rs 122.25 crore. In Q1FY24, the company total net revenue increased by 14.60 per cent from Rs 918.67 crore in the similar quarter the year prior.   

In the last trading session, the scrip closed at Rs 1546.20. Today it opened at Rs 1625.10 and closed around Rs 1612.85, up by 4.31 per cent. Today it has hitted fresh 52-week high at Rs 1735.10 and it has 52-week low of Rs 1115.15. The company has a market capitalization of around Rs 20,300 crore. Over the past six months shares of company has increased by around 32.84 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.