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This Small Cap IT Company Announced Buyback At 32% Premium And 150% Final Dividend

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The board of directors of Birlasoft held a meeting on May 23, 2022 and approved buyback up to 7,800,000 fully paid equity shares of Rs 2/-each of the company at a price of Rs 500 per equity share for an aggregate amount of Rs 390 crore or 3,900 million. The buyback offer size being less than 25% of the total paid-up equity capital and free reserves of Birlasoft as on March 31, 2022 both on standalone and consolidated basis.

 

1. Dividend

1. Dividend

According to report, Birlasoft has recommended a final dividend of Rs 3/-per equity share of face value of Rs 2/- each (150%) for the financial year 2021-2022 subject to declaraton of the same by the members.

2. Birlasoft Q4 results
 

2. Birlasoft Q4 results

The company has announced its Q4 results. It has reported a surge of more than 16% in its net profits at Rs 132.9 crore as against net profit/loss of Rs 113.9 crore for the period ended December 31, 2021. Birlasoft has registered a rise in its net profit and revenue when compared to the results of Q4 FY2021. This year the company's net profit surged to 34% while the revenue soared to 22%. On the full year basis, Birlasoft has reported a surge of 44.5% in the net profit at Rs 463.64 crore with a rise of 16.2% in revenue from operations at Rs 4130.35 crore in the current financial year that ended March 31, 2022. Its Managing Director and chief executive officer Dharmendra Kapoor said the company will continue its focus on capability enhancements across all industries and services lines amid a broad-based demand surge.

3. About Birlasoft

3. About Birlasoft

Birlasoft came into existence in the year 1995. The company was founded by CK Birla Group. It is a leading multinational information technology services provider. Birlsoft has several top-class delivery centres located in India and China. It functions in the fields like Banking, Manufacturing, Media & Healthcare Industry, Insurance and Manufacturing & Financial Services. Birlasoft, a key part of CK Birla Group, has been offering digital and information technology consulting, solution, services, and products for organizations across industries all over the globe. Today the share price of Birlasoft at NSE is recorded at Rs 377.50 with a fall of 0.16%. Meanwhile, the share price of Birlasoft LTD at BSE is recorded at Rs 378.10 with a loss of 0.040% till noon's trade.

Read more about: birlasoft buyback shares bse nse
Story first published: Tuesday, May 24, 2022, 13:48 [IST]
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