Indian companies have continued to share a good dividend payout this year, especially IT giant TCS, coal company Coal India Ltd (CIL), and mining firm Hindustan Zinc Ltd (HZL), according to a Business Standard report. The big payout by these three companies has raised the combined equity dividend payout by listed companies by 38 per cent YoY to a record high of Rs 2.27 lakh crore in 2022-23, against Rs 1.65 lakh crore in 2021-22, said the report.
The combined net profit of these companies jumped 13.4 per cent YoY in FY23. Listed companies distributed 41.2 per cent of their net profit as equity dividends in FY23 — much higher than 33.9 per cent in FY22, according to the report.
TCS Q4 Earnings
Tata Consultancy Services (TCS) reported a 14.8 per cent jump YoY in its net profit to Rs 11,436 crore for the quarter ended March 2023 (Q4 FY23). The revenue from operations of India’s largest IT services company also rose 16.94 per cent to Rs 59,162 crore, compared with Rs 50,591 crore in the year-ago period. TCS’ net profit had stood at Rs 9,959 crore in the corresponding period last year (Q4 FY22).
On a sequential basis, TCS’ net profit increased 5.08 per cent as compared with Rs 10,883 crore in the previous quarter ended December 2022. Its revenue also rose 1.6 per cent, as against Rs 58,229 crore in the quarter ended December 2022.
Coal India Q4 Earnings
Coal India Ltd, the world’s largest coal miner, on Sunday reported 17.7 per cent drop in its March quarter net profit on higher provision made for wage revision of employees. Consolidated net profit of Rs 5,527.62 crore, or Rs 8.98 per share, in January-March is compared with Rs 6,715 crore, or Rs 10.86 a share earning in the same period a year back, according to the company’s filing with stock exchanges.
The decline in profit in the fourth quarter of 2022-23 (April 2022 to March 2023) was despite coal production and dispatches to users.
Hindustan Zinc Q4
Indian miner Hindustan Zinc Ltd reported a nearly 12 per cent fall in March 2023 quarter profit, hurt mainly by lower zinc and lead prices and higher expenses. Its consolidated net profit fell to 25.83 billion rupees ($314.68 million) in the fourth quarter from 29.28 billion rupees a year earlier.
Comments
0 comment