Linde India stock spikes 4% on strong growth in Q4 profits

The company said its net consolidated profit zoomed 50 percent during the quarter to Rs 99.25 crore.

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Shares of Linde India jumped nearly 4 percent on May 24 following strong March quarter numbers reported by the industrial gas producer.

As of 9.20 am, the stock traded up 3.86 percent at Rs 4,023 on BSE.

The company said its net consolidated profit zoomed 50 percent during the quarter to Rs 99.25 crore from Rs 65.97 crore in the same quarter last year. This comes on an 18 percent growth in revenue from operations to Rs 630 crore.

Strong growth in revenue was visible in both gases and project engineering services. Gases revenue was Rs 488.72 crore while project engineering revenue came in at Rs 189.36 crore.

Also read: Ashok Leyland net profit skids 17% in Q4, but brokerages retain the ‘buy’ tag

The board of directors of the company also approved the proposal to pay dividends at Rs 12 per share including a special dividend of Rs 7.50 per share for the 15-month period of January 2022-March 2023.

Dividend is subject to shareholders’ approval.

The 87th Annual General Meeting of the company is scheduled to be held on Thursday, 17 August 2023. Linde India said the record date for the purpose of payment of dividend to the will be Thursday, 10 August 2023.