PSU Watch logo

| NTPC receives Rs 135 crore as 2nd interim dividend from APCPL |   | NHAI suffered a toll loss of Rs 2,731 crore due to farmers' protest |   | Govt hints coal crisis was caused by power sector’s failure to predict surge in demand |   | Decision on RINL privatisation not under reconsideration: Steel Minister in Lok Sabha |  

Q1 FY22 Results: MIDHANI shows recovery, posts a net profit of Rs 18.81 Crore

Mishra Dhatu Nigam Limited (MIDHANI) has declared a net profit of Rs 18.81 Crore in Q1'FY22 against the loss of Rs 0.92 Crore the previous year, also declared a final dividend of Rs 1.58 per equity share for FY'21
MIDHANI posts a net profit of Rs 18.81 Crore in Q1'FY22
MIDHANI posts a net profit of Rs 18.81 Crore in Q1'FY22

New Delhi/ Hyderabad: Mini-Ratna Defence PSU Mishra Dhatu Nigam Limited (MIDHANI) has achieved a turnover of Rs 114.05 crore during the quarter ended June 30 registering a growth of 0.48 percent against the turnover of Rs 113.50 crore recorded in the corresponding period of the previous year. Operating Profit of Rs 16.87 crore during the quarter ended June 30 against the Operating Loss of Rs 3.95 crore recorded in the corresponding period of the previous year.

MIDHANI Net profit rises

"Profit Before Tax (PBT) of Rs 25.06 crore during the quarter ended 30th June 2021 against the Loss of Rs 0.42 crore recorded in the corresponding period of the previous year. Profit After Tax (PAT) of Rs 18.81 crore during the quarter ended 30th June 2021 against the Loss of Rs 0.92 crore recorded in the corresponding period of the previous year" the defence PSU said in a regulatory filing to the bourses.

MIDHANI announced dividend

The Board of Directors had approved an interim dividend of Rs 1.20 per equity share on March 15, 2021. Further, the Board of Directors has recommended a final dividend of Rs 1.58 per equity share for the Financial Year 2021. The total dividend (including interim dividend) for the financial year 2020-21 is Rs 2.78 per equity share (par value Rs 10/- each).

The Company's operations were impacted by the second wave of the Covid-19 pandemic and the recovery was seen in the later part of the Q1'FY22.  "Based on its assessment of the business/economic conditions as on date, the company expects to recover the carrying value of assets and will continue to evaluate the pandemic-related uncertainty and update its assessment," the company said in the filing.

The order book position of the company as on July 01, 2021, stood at Rs 1402.29 crore.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)