Tata Technologies Dividend 2024: Tata Group company Tata Technologies on Friday declared its quarterly earnings for the January-March 2024 and announced a first-ever dividend payout for its shareholders. This is the second time that the company has announced its earnings post IPO listing in November 2023.
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Tata Technologies Q4 Results 2024
During the January-March 2024 quarter, the Tata Group company reported a 7.6 per cent decline in its net profit to Rs 157.2 crore versus Rs 170.2 in the October-December 2023 quarter. Tata Technologies’ revenue came in at Rs 1301 crore, up from Rs 1289 crore in the previous quarter.
EBITDA of the Tata Group company stood at Rs 240 crore, up 1.4 per cent from Rs 236.6 crore while its EBIT margin came in at 18.4 per cent versus 18.3 per cent.
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Tata Technologies Dividend 2024
For the first time, the Tata Motors subsidiary has announced a final and a special dividend reward for its shareholders. Tata Technologies’ shareholders will receive a dividend of 502.5 per cent, which translated to a payout of Rs 10.05 on a face value of Rs 2. “Recommend a final dividend of Rs 8.40 and special dividend of Rs 1.65 per Equity share of Rs 2 each.”
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The dividend, if approved at the Annual General Meeting (‘AGM’), shall be paid/dispatched on or after the third day from the conclusion of the 30th AGM, Tata Tech added. This would result in a cash outflow of approximately Rs 407.70 crore.
