Rs 3/Share Dividend: Multibagger Stock At 52W-High Reports 132% PAT Growth In Q3

The shares of LKP Finance Limited saw a 5% rise in morning trade on Monday after rising from their opening price of Rs 260.00 per share on the BSE to a new one-year high of Rs 262.55. Focus is now on the stock, which was up 1.22% on the BSE after the company released its Q3 results.

On a consolidated basis, the company reported a net income of Rs 19.92 Cr in the quarter ended 31st December 2023 up by 82.92% YoY from Rs 10.89 Cr in the year-ago quarter. Its revenue from operations stood at Rs 4.93 Cr in Q3FY24 compared to Rs 4.03 Cr in the same quarter of the previous fiscal.

The company recorded an EBIT of Rs 21.32 Cr during the quarter under review which was Rs 10.06 Cr in the corresponding quarter of the previous fiscal. LKP Finance said its consolidated net profit reached Rs 15.41 Cr in Q3FY24 which is 132% YoY higher than Rs 6.64 Cr declared in Q3FY23.

During the reporting quarter, State Bank of India obtained an order from Debt Recovery Tribunal (DRT), Bangalore against Kingfisher Airlines Limited, United Breweries (Holdings) Limited and others for recovery of dues from them. In the earlier years, the Group received a garnishee order from the Recovery Officer, DRT, Bangalore claiming Rs. 2,500 Lakhs (plus interest) as the financial statements of Kingfisher Finvest India Limited ( lender) reflected the amount due from the Group. The Group has contested the claim and deposited Rs. 1,126.22 Lakhs. The matter is presently pending before the Debt Recovery Appellate Tribunal, Chennai, said LKP Finance in a statement.

Net gain / (loss ) on fair value changes for the quarter and nine months ended 31 December 2023 includes unrealised gains of Rs. 572.29 and 2,923.16 Lakhs respectively, said LKP Finance in a stock exchange filing.

During the quarter ended 31 December 2023, the holding company paid an interim dividend of Rs. 3 per share for the financial year 2023-24, according to LKP Finance.