Rs 12/Share Interim Dividend: IT Stock Sets Record Date For 120% Payout

In Friday's closing session, Sasken Technologies, a small-cap IT firm, had a market worth of Rs 1,908.45. A 120% interim dividend as well as the company's financial results for the second quarter of the current fiscal year have been announced.

Sasken Technologies Dividend

"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, 2023, Board has fixed Tuesday, October 31, 2023 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 Saturday, November 18, 2023," said Sasken Technologies in a stock exchange filing.

Sasken Technologies Q2 Results

The firm recorded a total income of Rs. 112.84 crores for the quarter that ended on September 30, 2023, down from Rs. 135.71 crores for the quarter that ended on September 30, 2022, or a decline of 16.85% YoY. Sasken Technologies reported a net profit of Rs. 18.07 crores during the second quarter of fiscal year 24 compared to PAT of Rs. 35.92 crores in the same quarter of fiscal year 23, a drop of 49.67% YoY. The company has reported EPS of Rs.11.84 during the quarter under review as compared to Rs.23.74 recorded in the corresponding quarter of FY23.

Sasken Technologies Share Price History

On Friday, the shares of Sasken Technologies closed on the BSE at Rs 1268 apiece down by 4.51% from the previous close of Rs 1327.95. The scrip reached a 52-week-high of Rs 1,446.85 on (10/10/2023) and a 52-week-low of Rs 774.00 on (28/03/2023), indicating that at the current market price, the stock is trading 12.36% below the 1 year high and 63.82% above the 1 year low. The shares of Sasken Technologies have gained 61.32% in the last 1 year and 42.58% so far in 2023. The company reported promoters' shareholding of 43.38%, FIIs stake of 18.62%, DIIs stake of 0.33%, Govt stake of 0.05% and public stake of 37.61% in Q2FY24.