This e-commerce stock turns ex-dividend today; firm to give dividend of Rs 20 per share

Shares of e-commerce firm IndiaMART InterMESH were in focus after the stock turned ex-dividend today. IndiaMART InterMESH stock rose up to Rs 5966.05 today against the previous close of Rs 5930.25 on BSE. IndiaMART InterMESH stock is trading higher than the 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. The stock has gained 36.46 per cent in a year and gained 37 per cent in 2023. Total 3176 shares of the firm changed hands amounting to a turnover of Rs 1.87 crore.

Market cap of the firm rose to Rs 18,078 crore on BSE.

The mid cap stock rose to a 52-week high of Rs 6101.30 on May 4, 2023 and fell to a 52-week low of Rs on 3676.05 on July 6, 2022.

The board of IndiaMART InterMESH announced the final dividend of Rs 20 per share on April 28 this year, the day when firm’s Q4 and annual earnings were announced.

“The Board of Directors of the Company at its meeting held on Friday, April 28, 2023 recommended a final dividend of Rs. 20/- per equity share of face value of Rs. 10/- each for FY 2022-23 (i.e. 200% of the face value), subject to the approval of the shareholders in the ensuing Annual General Meeting,” said IndiaMART InterMESH.

IndiaMART InterMESH reported a 2.79% fall in net profit to Rs 55.80 crore in Q4 of the last fiscal against Rs 57.40 crore in the March 2022 quarter. The firm logged a 33.47% rise in sales to Rs 268.80 crore in the March 2023 quarter against Rs 201.40 crore in the March 2022 quarter.

On an annual basis, net profit slipped 4.64% to Rs 283.80 crore for the fiscal ended March 2023. However, sales climbed 31% to Rs 985.40 crore in the March 2023 fiscal against Rs 753.50 crore for the fiscal ended March 2022.

IndiaMART InterMESH Limited is an India-based online business to business (B2B) marketplace. The company is an e-marketplace for business needs, which acts as an interactive hub for domestic and international buyers and suppliers. The company provides a platform for businesses to discover products and services of their choice and connect with relevant suppliers of such product and services.