Pharmaceutical Mid-cap Company Declares Rs 16/Share Dividend, Posts 61.21% Growth For FY23

AstraZeneca Pharma India Ltd, announces a final dividend for the year ending March 2023 Tuesday after the board meeting held. It was informed through a securities exchange filing when posting the Q4FY23 results.

Q4FY23 Performance

AstraZeneca Pharma posted a growth of 24.21% year-on-year (yoy) in total income from Rs 292.7007 crores to Rs 235.6472 crores in Q4FY23. The company reported a net loss of Rs 17.2712 crores, it was down by 37.39% from the same period last year's profit after tax of Rs 27.5833 crores.

Even sequentially there was a loss of 41.06% from 29.3044 crores reported in December. Whereas for the full year, the total income has grown 25.44% to Rs 1029.0728 crores from Rs 820.3577 crores reported last year and the PAT has risen by 61.21% to 99.2926 crores against Rs 61.5928 crores last year.

Dividend Details

Besides, the results, the Board of Directors at its meeting dated 30th May, 2023 has recommended a dividend of Rs 16 per equity share for the financial year ended March 31, 2023. It aggregates to Rs 4000 lakhs.

The said dividend, if approved by the shareholders at the ensuing Annual General Meeting (AGM) of the company shall be paid within 30 days from the date of such declaration. But no details of record date or book closure details were shared.

About AstraZeneca Pharma Ltd

AstraZeneca Pharma is a mid-cap company established in 1979 and is headquartered in Bengaluru, Karnataka. The company is a subsidiary of AstraZeneca Plc, UK. It operates and covers the manufacturing, sales, and marketing activities of the parent company in India. It has a market capitalisation of Rs 8,330 crores.

Share Price Movement

The latest closing price of this pharma mid-cap stock is Rs 3,332, it rallied by 2.43% over the previous day's closing price. In the last one year and three years, the share price has surged by 10.58% and 7.96% respectively.