Birlasoft shares jumped over 8% on Tuesday after the company reported its earnings for the quarter ended March. Ace investor Ashish Dhawan owns 1.01% or 27,64,615 shares of the company.
What Happened: The IT company saw its bottom line go green in the March quarter after reporting a loss of ₹16.4 crore in the December quarter. The loss was mainly due to one of its biggest clients Invacare Corp – a US-based manufacturer and distributor of non-acute medical equipment – going bankrupt.
For the March quarter, the company’s revenue from operations stood at ₹1,226.39 crore, up 11% year-over-year. Profit for the review quarter stood at ₹112.2 crore. The company beat street estimates on both of these numbers. The company also announced a ₹2/share dividend for the year ended March 2023.
Now, with the surge today backed by the strong Q4 numbers, here’s how much Birlasoft added to Ashish Dhawan’s net worth today. The value of Dhawan’s stake in the company yesterday would have been around ₹79.55 crore when the stock closed at ₹287.75. Today, the value of his holding in the company has gone up to ₹86.25 crore.
Talking about the dividend payment, if it is approved by the shareholders of the company, and Dhawan continues to hold his stake till the record, he would make around ₹55.29 lakh from the dividend payment before taxes.
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Price Action: Birlasoft share price was up 8.18% to trade at ₹311.30 on Tuesday afternoon.
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