Payback time: India Inc cut back on dividends in FY24 despite record profit

A cut in dividend payout last financial year came after three years of high double-digit growth, mirroring the boom in corporate profits in the post-pandemic period

Despite a boom in corporate profitability, listed firms in FY24 reduced dividend payout, which was down 4.7 per cent year-on-year (Y-o-Y) to Rs 4.03 trillion from the record high of Rs 4.23 trillion in FY23.

In comparison, combined net profits (adjusted for exceptional gains and losses) of all companies in the Business Standard sample were up 29.9 per cent Y-o-Y to an all-time high of Rs 14.75 trillion last financial year from the Rs 11.36 trillion in FY23.

A cut in dividend payout last financial year came after three years of high double-digit growth, mirroring the boom in corporate profits in the