All one has to do is buy these shares, then a profit of Rs 35 is fixed on each one, whether the market goes up or down.

New Delhi. Lumax, a manufacturer of components for automobile companies, has announced its results for the last quarter of the financial year 2023-24. The company’s profit rose 22 percent year-on-year to Rs 742 crore in the March quarter. After that the company has also declared the dividend. The company will pay a dividend of Rs 35 per share. This is the highest dividend paid by the company in 5 years. This dividend will be subject to the approval of the shareholders at the AGM.

The record date of dividend will also be declared after approval in this AGM. If approved in the AGM, the dividend amount will be transferred to the investors’ accounts within 30 days. The company also paid a final dividend of Rs 27 in 2023. Earlier, the company had paid a dividend of Rs 35 in 2019.

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A fall in shares
However, despite the announcement of dividend this time, the company’s shares are seeing a decline. Today the share fell by around 6.50% and closed at Rs 2675 on NSE. Along with the decline, the company’s market cap has also fallen to around Rs 2,500 crore. Apart from the dividend, the company’s quarterly results have also been good. Despite this, its shares are falling today. Its shares have gained nearly 47% in the past one year.

Quarterly results
In the results released by the company for the March quarter, it posted a 22% higher profit compared to the same period last year. The company’s profit in the March quarter was Rs 742.7 crore. The company’s EBITDA margin increased by 33% to Rs 70 crore.

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