Root Mobile Buyback: The board of directors of midcap company Root Mobile is going to consider the proposal of buyback of shares in its scheduled meeting today. after the interim dividend of Paying 3 per equity share in FY22, this will be the second opportunity for Root Mobile shareholders to get benefits apart from Root Mobile share price appreciation.
information about Root Mobile Share Buyback Considering, the company’s latest communication stated, “In accordance with Regulation 29(1)(b) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, it is hereby informed that, at a meeting of the Board of Directors of the Company, To consider the proposal for buyback of fully paid-up equity shares of the Company, in accordance with the provisions in force under the Companies Act, 2013 (including rules and regulations) scheduled to be held on Tuesday, June 28, 2022. framed), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 (amended), and other applicable laws. Trading Window Closure: With reference to the Company’s Code of Conduct (the “Code of Conduct”) of Insider Trading For prevention, the trading window of the Company shall remain closed till further information is furnished to the stock exchanges with effect from June 23, 2022. The persons named as per the code specified above have been informed of the e-conduct.”
After the scheduled meeting of the Board of Directors root mobile buyback price And the record date is also expected today. The company board is also expected to announce the share buyback process (buyback from the open market or from the exchange).
Root Mobile is one of the dividend paying stocks in 2022 as the company has turned into pre-split stock on 7th Feb 2022. it has paid dividends 3 per equity share to its shareholders in the financial year 2021-22. In FY21, Root Mobile introduced the . had declared the final dividend of 2 per equity share.
In Q4FY22 results, Root Mobile reported Net profit of 0.15 crore which was 6.98 crores in Q4FY21. Hence, the midcap company has reported a decline of around 97.85 per cent in its net profit on a year-on-year basis. However, the company’s sales in Q4FY22 remained 99.66 crores, about 9.60 percent more than its sales 90.94 crore in Q4FY21.
In FY22, Root Mobile posted a net profit of 27.76 crore, about 24.30 percent more than its net profit 22.33 crore in Q4FY21.