Action Construction Equipment’s net profit up 49.26% in Q1 FY24, ET RealEstate

August 26, 2023

NEW DELHI: Action Construction Equipment has reported a growth of 49.26 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 67.57 crore in Q1 FY24 as against Rs 45.27 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 667.85 crore in Q1 FY24, a growth of 27.93 per cent from Rs 522.04 crore it recorded in the similar quarter last year.

Revenue from construction equipment segment stood at Rs 92.51 crore in Q1 FY24 as against Rs 51.99 crore in Q1 FY23, registering a growth of 77.94% year-on-year. The segment’s profit before tax was Rs 13.09 crore during the said quarter.

During the current quarter, the company has granted 90,000 employee equity share option under Action Construction Equipment employee stock option scheme – 2021.

The board of directors have recommended a final dividend at 50% i.e. Re 1 per equity share which will be approved in upcoming annual general meeting.

  • Published On Aug 11, 2023 at 02:39 PM IST

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