Tata Motors Ltd.'s board has recommended a final dividend of Rs 6 per ordinary share for financial year 2024, subject to the approval of the shareholders at its ensuing annual general meeting, according to an exchange filing on Friday. The final dividend includes Rs 3 normal dividend and Rs 3 special dividend.
The Tata Group company will pay Rs 1,994 crore in dividends to shareholders in fiscal 2024. The dividend, if approved by the shareholders, will be paid on or after June 28.
Tata Motors' income surged more than threefold in the fourth quarter due to the deferred tax write back of Rs 9,478 crore.
Consolidated net profit of the Nexon-maker rose 219% over the previous year to Rs 17,529 crore in the three months ended March 31, according to an exchange filing. Analysts polled by Bloomberg had estimated the bottom line at Rs 6,966.98 crore.
Tata Motors Q4 Results: Key Highlights (YoY)
Revenue rises 13.3% to Rs 1.2 lakh crore (Bloomberg estimate: Rs 1.21 lakh crore)
Ebitda rises 32.8% to Rs 16,995 crore (Bloomberg estimate: Rs 17,406.73 crore)
Ebitda margin at 14.2% versus 12.1% (Bloomberg estimate: 14.4%)
Net profit rises 218.9% to Rs 17,529 crore (Bloomberg estimate: Rs 6,966.98 crore)
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