Rs 7.50/Share Dividend: Metal Stock Reports 5-Fold Jump In Q2 Net, Shares Up 81% In 1-Yr

Metal & ferrous sector stock Indian Metals & Ferro Alloys today announced a sharp rise of nearly five-fold in its consolidated net profit to Rs 89.34 crore for the quarter ended September 30, 2023 as expenses witnessed decline. The company declared its net profit at Rs 16.40 crore in the corresponding quarter of last year, as per the company's BSE filing issued today.

Indian Metals also declared an interim dividend of Rs 7.50 per share for the FY ending March 31st, 2024. Last trading price of Indian Metals stock on BSE is Rs 439.00 per share with intraday rally of 1.81%. Indian Metals shares offered return of 60% year-to-date. Check details below:

Indian Metals & Ferro Alloys Declares Interim Dividend: As per the BSE filing of the company dated November 2, 2023, "declared an Interim Dividend of INR 7.50 (Rupees seven and paise fifty only) per equity share of INR 10/- each for financial year ending 31 st March 2024. As intimated vide our letter dated 21st October 2023, the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Friday, 10th November 2023. The Interim Dividend will be paid to such shareholders on or before Saturday, 2nd December 2023."

Indian Metals Quarterly Results: The company declared its total income at Rs 704.25 crore against Rs 676.88 crore announced in the year ago period. Its expenses declined to Rs 581.10 crore from Rs 647.98 crore reported last year. The company also gave nod to the merger of Utkal Coal Ltd into Indian Metals & Ferro Alloys Ltd along with their respective shareholders and creditors. According to reports, the amalgamation is expected to be implemented upon receipt of requisite approvals of statutory and regulatory authorities, including the approval of the jurisdictional National Company Law Tribunal, shareholders and creditors.

Indian Metals Stock Performance & Return: Last trading price of Indian Metals share on BSE is Rs 439.00 apiece. Its 52-week high price is Rs 450.60 per share and 52-week low price is Rs 221.00 per share, respectively. The small cap metal company has a market capitalisation of Rs 2368.59 crore. Indian Metals shares soared 49% in last 6-months, gained over 11% in last 2-years, soared 235% in last 3-years, and offered return of 223% in last 5-years.

Indian Metals About: Established in 1961 in the Eastern State of Odisha known for its rich natural resources, IMFA is India's leading fully integrated producer of value added ferro chrome with 190 MVA installed furnace capacity backed up by 204.55 MW captive power generation capacity (including 4.55 MWp solar) and extensive chrome ore mining tracts. We are unique from the quality perspective due to comprehensive ISO 9001 Quality Management certification, according to its LinkedIn page.

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