IT Stock Declares Sharp 120% Interim Dividend, Record Date Soon: Buy?

Small-cap IT stock Sasken Technologies announced an interim dividend of 120%. The record date will be November 1, 2022. In Q2 FY23 the company reported a net profit of Rs. 35.9 Crore, increased by 136% QoQ, from Rs. 15.20 Crore in the earlier quarter. Sasken Technologies also announced revenue of Rs. 120 Crore in Q2 FY23, up by 18.5% QoQ from Rs. 101.3 Crore revenue in Q1 FY23.

The company informed the stock exchange, "The Board declared an interim dividend of Rs. 12 (120%) per equity share of Rs. 10 each. As intimated vide our letter dated October 12, 2022, Board has fixed November 1, 2022 as the Record date to ascertain the list of shareholders eligible for the aforesaid Interim Dividend and the same will be paid on or before November 18, 2022."

The small-cap IT company's EBIT margin was reported to be at 23.6% in Q2 from 25.6% in Q1. Its profit before tax (PBT) stood at Rs. 44.07 Crore in Q2 FY23, increased by 117% QoQ, from Rs. 20.23 Crore in Q1.

Sasken Technologies - stock performance

In the last 1 month its share price has fallen by 1.87%, in the last 6 months its share price fell by 7.32%. Similarly, in the last 1 year its share price fell by 38.34%. The 52-week high level of this stock is Rs. 1,525, and the 52-week low level of this stock is Rs. 718. This large-cap company has a market capitalization of Rs. 1,186 crore.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, and the author are not liable for any losses caused as a result of decisions based on the article. This article only incorporates recent stock-related information about the companies.