Fineotex Chemical Limited announces third quarter results, 60 percent dividend – see details here

The company has set February 26 as the record date to determine shareholder eligibility for this corporate action.

New Delhi: Fineotex Chemical Limited has announced its quarterly results and net sales increased by 26.75 percent to Rs 138.45 crore and net profit by 46.49 percent to Rs 22.47 crore in the third quarter of FY24, compared to the corresponding quarter in FY23. In the nine-month results, net sales rose 9.66 per cent to Rs 415.95 crore and net profit rose 42.57 per cent to Rs 90.55 crore in 9MFY24 compared to 9MFY23.

Meanwhile, the company has also announced an interim dividend of Rs 1.20 per equity share or 60 percent. The company has set February 26 as the record date to determine shareholder eligibility for this corporate action.

“An interim dividend of 60% declared, i.e.; Rs. 1.20/- per equity sh are (face value Rs 2 each), aggregating to Rs.13.29 Crores. The record date is February 26, 2024 and the dividend will be paid on or before March 12, 2024,” the company said in an exchange filing.

Consolidated Quarter Q3-FY 2023-2024 (annualized)

1. Operating revenue for the quarter increased to -Rs. 13,845.18 Lakhs of -Rs. 10,922.96 Lakhs i.e. a growth of 26.75%.

2. Operating EBITDA for the quarter increased to -Rs. 4,035.23 Lakhs of -Rs. 2,855.03 Lakhs i.e. a growth of 41.34%.

3. Profit after tax (PAT) for the last quarter increased to -Rs. 3,292.51 Lakhs of -Rs. 2,247.55 Lakhs, i.e. a growth of 46.49%.

b) Consolidated nine-month financial year 2023-2024 (annualized)

1. Operating EBlTDA for the nine months increased to -Rs. 11,009.13 Lakhs of -Rs. 7,988.53 Lakhs i.e. a growth of 37.81%.

2. Profit after tax (PAT) for the nine ended months increased to -Rs. 9054.94 Lakhs from -Rs. 6,355.49 Lakhs i.e. a growth of 42.47%.