 "Transformers and Rectifiers Q4 results: Profit jumps 4-fold to Rs 42 cr")
Transformers and Rectifiers (India) Ltd on Monday posted over four-fold jump in consolidated net profit at Rs 41.62 crore for March quarter FY24.
Net profit in the year-ago period stood at Rs 9.60 crore, the company said in a BSE filing.
Total income in the quarter rose to Rs 514 crore from Rs 439.50 crore a year ago.
In the entire fiscal year, profit increased to Rs 47.01 crore from Rs 42.35 crore in FY23. Total income dipped to Rs 1,300.50 crore from Rs 1,404.66 crore.
The company's board at its meeting held on April 8, 2024 recommended a dividend of 20 paise per equity share to all the existing shareholders.
The board also proposed issuance of equity shares, and/or equity linked securities and/or securities convertible into equity shares through Qualified Institutional Placement (QIP) or preferential allotment to raise up to Rs 500 crore.
It also approved reappointment of Satyen J. Mamtora as Managing Director with effect fom from April 1, 2025, subject to approval of shareholders.
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