Shares of Linde India rose nearly 4% on May 24 after the industrial gas producer posted strong March quarter numbers.

The stock was up 3.86% at Rs 4,023 on the BSE as of 9:20 am.

Net consolidated profit for the quarter rose 50% to Rs 99.25 crore from Rs 65.97 crore a year earlier, the company said. This was as operating income rose by 18% to Rs 630 crore.

Revenues from natural gas and project engineering services both posted strong growth. Gas revenue was at Rs 488.72 crore while project engineering revenue was at Rs 189.36 crore.

The company’s board also approved the proposal to pay a dividend of Rs 12 per share for the 15-month period from January 2022 to March 2023, including a special dividend of Rs 7.50 per share. Dividends are subject to shareholder approval.

The company’s 87th Annual General Meeting is scheduled for Thursday, August 17, 2023. Linde India said the registration date for payment of the dividend to it is Thursday, August 10, 2023.