Voltamp Transformers rallies 10% on dividend bounty, good Q4 results

The board recommended a total dividend of Rs 22.50 per share, which includes a one-time special dividend of Rs 7.5 per share for the achievement of all-time high net sales in the company's history.

Voltamp Transformers on Thursday hit its 52-week high of Rs 1,190 apiece in early morning trade on the BSE, supported by the 10 per cent rally after the company recommended a total dividend of Rs 22.50 per share for the year ended March 31, 2019. 

This included one-time special dividend of Rs 7.5 per share to commemorate achievement of all-time high net sales in the history of the company apart from a dividend of Rs 15 per share being given at 150 per cent.

The stock surpassed its previous high of Rs 1,177 touched on April 1, 2019 in intra-day trade.

For the quarter ended March 2019 (Q4FY19), the heavy-eqipment manufacturer reported a strong 60 per cent year-on-year (Y-o-Y) jump in net profit at Rs 32.17 crore -- supported by higher other income -- beating analysts' expectations of Rs 26 crore profit. It had profit of Rs 20.10 crore in the year-ago quarter.

Operational revenue, too, grew by 18 per cent at Rs 259 crore on Y-o-Y basis. Other income rose nearly six-fold to Rs 13.81 crore from Rs 2.42 crore in the corresponding quarter of previous fiscal. Analysts had pegged the company's revenue at Rs 240 crore for the recently-concluded quarter.

At 09:35 am, the stock was trading 7.4 per cent higher at Rs 1,159 on the BSE, as compared to a 0.20 per cent rise in the S&P BSE Sensex. A combined 14,672 shares have changed hands on the counter on the BSE and NSE so far.