look news india
Indian companies have continued to perform well, with profits growing by about 25 per cent in FY 2023-24, although dividends declared at the time of results are stingy based on profit figures. Big companies have also not been generous in paying dividends this time. 49 Nifty companies have also backed out from paying dividends. As against the 42.5 per cent dividend paid by 49 Nifty companies in FY 2022-23, this figure fell to 37.1 per cent in FY 2023-24. Another big thing is that despite the completion of FY 2023-24, 1,823 of the total companies have not yet declared their quarterly results. The dividend declaration ratio of companies that have declared results so far is only 34.83 per cent. Which is the biggest decline in the last five years. Despite profitable performance, companies have backed out from giving dividends to shareholders, surprising the market. Out of 2,832 companies, 1,009 i.e. half of the companies have declared their results. The companies declaring the results for the financial year 2023-24 have declared a total dividend of Rs 4.04 lakh crore. In the last financial year, 1,151 companies had given a dividend of Rs 4.14 lakh crore. The 1,009 companies declaring the results earned a total net profit of about Rs 12 lakh crore.