Praj Industries share price surged over 8 per cent in early trade on BSE on Friday (May 26) boosted by the company’s strong March quarter scorecard. The stock opened at ₹376.10 against the previous close of 356.80 and jumped over 8 per cent to hit the level of 386.50. The stock hit its 52-week high of ₹461.50 on October 11, 2022. For the year so far, the stock is flat.
In a BSE filing after the market hours on May 25, the biotechnology company said its consolidated profit after tax (PAT) for Q4FY23 stood at ₹88.12 crore, up 53 per cent year-on-year (YoY) versus ₹57.65 crore in Q4 FY22.
Income from operations for the quarter under review stood at ₹1,003.98 crore, up 21 per cent YoY against ₹830.96 crore in Q4 FY22.
The board of directors of Praj Industries proposed a final dividend of ₹4.50 per equity share at 225 per cent of the face value of ₹2 per equity share, for the financial year 2023.
“We delivered a healthy and consistent performance throughout FY23 by leveraging our technology edge and strong delivery capabilities. The energy transition and climate action (ETCA) agenda has opened new opportunities for our engineering businesses. Expansion of mobility solutions beyond surface mobility which includes SAF are expanding horizons of opportunity for our business. We are confident of meeting the expectations of all our stakeholders, as we move forward on our sustainable journey,” said Shishir Joshipura, CEO & MD of Praj Industries.
(More to come)
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Article Source:Money Control
