Rs 3/Share Interim Dividend: Share India Securities Reports 35% Sales; 24% PAT Growth In Q3

A small-cap stockbroking company named Share India Securities has released its financial results, along with an interim dividend of Rs 3 per share for FY24. Following this, the stock had a stronger opening on Monday on the BSE at Rs 1908.10 per share. It then reached an intraday high of Rs 1914, recording a gain of 1.18%.

The company reported revenue from operations of Rs 374 Cr during the quarter ended 31st December 2023 up by 35.1% YoY from Rs 277 Cr reported in the year-ago quarter.

Its EBITDA stood at Rs 183 Cr during the quarter under review which was Rs 141 Cr in the same quarter of the previous fiscal, up by 29.5% YoY whereas EBITDA margin reached 48.8% which was 50.9% in the second quarter of FY23.

Share India Securities recorded a net profit of Rs 115 Cr in Q3FY24 up by 24.4% YoY from Rs 93 Cr in Q3FY23.
Mr. Sachin Gupta - CEO & Whole-time Director of Share India Securities Limited said, "We are pleased to report a remarkable performance in the past fiscal quarter, with our revenue experiencing an impressive YoY growth of 35%, reaching Rs. 374 crores.

Achieving our highest-ever quarterly profit after tax of Rs. 115 crores, representing a substantial 24% increase, underscores our sustained financial strength and strategic prowess. Our commitment to expanding our client base has yielded significant results, with a robust year-on-year growth of 38%, bringing our total broking clients to an impressive 32,886."

"Additionally, our NBFC witnessed a noteworthy 18% QoQ growth, reaching Rs. 235.5 crores, reflecting the resilience and stability of our financial portfolio. Recognizing the importance of rewarding our shareholders, the board of directors are pleased to recommend an interim dividend of Rs. 3 per share of face value Rs.10 each.

This is a testament to our dedication to sustainable growth and value creation for our stakeholders. We look forward to maintaining this positive momentum and delivering continued success in the upcoming quarters," he further added.

The Board has declared 3rd interim dividend of Rs. 3/- per equity share having a face value of Rs. 10/- each for the Financial Year 2023-2024. "Payment towards afore-mentioned 3rd Interim Dividend for the Financial Year 2023-2024/dispatch of demand draft will be done on or before Thursday, February 22, 2024.

The 3rd Interim dividend shall be paid to the shareholders of the Company whose names appear in the records of the Depositories as beneficial owners of Equity Shares as on Friday, February 02, 2024, which is the Record Date fixed for the purpose of aforesaid dividend," said Share India Securities in a regulatory filing.