Deep Industries announced that the Board of Directors of the Company at its meeting held on 28 May 2019, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Net profit of Deep Industries declined 27.33% to Rs 13.51 crore in the quarter ended March 2019 as against Rs 18.59 crore during the previous quarter ended March 2018. Sales declined 11.41% to Rs 70.09 crore in the quarter ended March 2019 as against Rs 79.12 crore during the previous quarter ended March 2018.

For the full year,net profit declined 21.55% to Rs 59.64 crore in the year ended March 2019 as against Rs 76.02 crore during the previous year ended March 2018. Sales declined 13.77% to Rs 259.12 crore in the year ended March 2019 as against Rs 300.49 crore during the previous year ended March 2018.

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Deep Industries will hold a meeting of the Board of Directors of the Company on 28 May 2019.

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The announcement was made during trading hours today, 12 April 2019.

Meanwhile, the S&P BSE Sensex was up 160.12 points, or 0.41% to 38,767.13.

On the BSE, 3276 shares were traded in the counter so far compared with average daily volumes of 6066 shares in the past two weeks. The stock had hit a high of Rs 143.20 and a low of Rs 137 so far during the day. The stock hit a 52-week high of Rs 177.80 on 12 April 2018. The stock hit a 52-week low of Rs 79.10 on 6 July 2018.

Deep Industries said it has received letter of award (LoA) from ONGC for charter hiring of 01 No. of 50 MT work over rig for Ahmedabad asset for category-2 for a period of three years. The total estimated value of the said award is approximate Rs 18 crore.

Net profit of Deep Industries declined 18.34% to Rs 15.01 crore on 19.11% decline in net sales to Rs 60.39 crore in Q3 December 2018 over Q3 December 2017.

Deep Industries has grown up to be a one stop solution provider for every need in oil and gas field operations by catering various equipment and services under rental and chartered-hire basis.

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