Black Box said that its board has approved the proposal for sub division/ split of equity shares of the company from face value of Rs 10 each into equity shares of face value of Re 2 each.
The company said that rational for the stock split is to facilitate larger shareholder base to increase liquidity in the capital market and to make shares more affordable to small shareholders.
Black Box (formerly AGC Networks) is a global information and communication (ICT) solutions provider and integrator in business communication systems, applications and services.
The company's consolidated net profit declined 58.21% to Rs 15.38 crore on a 11.79% rise in sales to Rs 1387.41 crore in Q3 FY22 over Q3 FY21.
The scrip fell 1.88% to currently trade at Rs 786.95 on the BSE.
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