Action Construction Equipment has announced a remarkable surge of 108.80 percent in its net consolidated profit for the quarter ending on March 31, 2024. According to the company's BSE filing, its profit after tax reached Rs. 98.45 crore in Q4FY24, surpassing the Rs. 47.15 crore recorded in the same quarter of the previous fiscal year.
This significant growth in net consolidated total revenue can be attributed to several key factors, including successful product launches, increased market demand, and strategic partnerships. The corporation's strong performance in Q4 FY24 reflects its ability to adapt to changing market conditions and capitalize on emerging opportunities.
Furthermore, the corporation's robust financial performance in Q4 FY24 is a testament to its effective cost management strategies and operational efficiency. By optimizing its resources and streamlining its processes, the corporation was able to achieve a substantial increase in revenue while maintaining profitability.
The board of directors proposed a dividend payout of 100%, amounting to Rs 2 per equity share of Rs. 2 each for the fiscal year 2023-24.
Throughout the entire year, the net profit increased by 91.22% to Rs.328.16 crore in the fiscal year ending in March 2024, compared to Rs.171.61 crore in the previous fiscal year ending in March 2023. Sales also saw a rise of 34.92% to Rs.2913.80 crore in the fiscal year ending in March 2024, as opposed to Rs.2159.68 crore in the previous fiscal year ending in March 2023
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