Macrotech Developers Q4 results: Net profit rises 39%; firm declares 1:1 bonus issue and Rs 2 dividend

Real estate firm Macrotech Developers Ltd (Lodha) on Saturday reported 39% jump in consolidated net profit at Rs 744 crore for the quarter ended March 31, 2023. It reported consolidated net profit of Rs 535 crore in the year-ago period. 

The firm's consolidated revenue fell 5.5% to Rs 3,255 crore as compared to Rs 3,445 crore in Q4FY22.

On Friday, the firm's scrip on BSE closed trading 3% lower at Rs 913. 

The company's board declared 1:1 bonus issue and the bonus shares will be issued out of share premium
and capital redemption reserve account available as per the audited financial statements of the company for the financial year ended March 31, 2023.

"Issuance of bonus equity shares in the proportion of 1 new fully paid up equity share of Rs 10 each for every existing 1 equity share of Rs 10 each held by the members of the Company as on the record date, subject to shareholders’ approval through postal ballot," said the firm in a stock exchange filing.

48.18 crore shares will be issued as part of the bonus issue. 

Estimated date by which such bonus shares would be credited/dispatched is within 2 months from the date of Board’s approval, i.e. latest by June 21, 2023. 

On Saturday, the firm's board also approved a final dividend of Rs 2 i.e. 20% per equity share of face value of Rs 10.