MRF on Friday reported a standalone net profit of ₹379.6 crore for the fourth quarter of FY24, a decline of 7.6% from ₹410.7 crore in the year-ago period.
The tyre manufacturer’s revenue from operations in Q4FY24 rose 8.6% to ₹6,215.1 crore from ₹5,725.4 crore, on a year-on-year (YoY) basis.
Earnings before interest, taxes, depreciation and amortization (EBITDA) in the March quarter increased 5% to ₹885.7 crore from ₹843.1 crore, while EBITDA margin weakened to 14.3% from 14.7%, YoY.
On a consolidated basis, MRF reported a net profit of ₹396.11 crore, up 16% from ₹340.65 crore in the year-ago period. Its consolidated revenue from operations in Q4FY24 grew 8.38% to ₹6,349.36 crore from ₹5,841.72 crore, YoY.
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For the entire financial year 2023-2024, MRF’s net profit jumped to ₹2,081.23 crore from ₹768.94 crore at the end of FY23.
The company’s revenue from operations in FY24 increased by 9.39% to ₹25,169.21 crore as against ₹23,008.50 crore in FY23.
MRF Dividend
The board of directors of MRF have recommended a final dividend of ₹194 or 1,940% per equity share of face value of ₹10 each.
The Company has already declared and paid two interim dividends of ₹3 per share each for the financial year ended March 2024. The total dividend for the FY24 works out to ₹200 per share, or 2000%, per share of ₹10 each, the company said.
MRF shares are India’s highest-priced stock that hit a record high of ₹151,283.40 on February 23, 2024. MRF share price has fallen 9% in the past three months, while the stock is down 1% year-to-date (YTD). In the past one year, MRF shares have gained over 37% and more than 60% in three years.
At 1:20 pm, MRF shares were trading 4.10% lower, or down by ₹5,484.45, at ₹1,28,441.80 apiece on the BSE.
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Published: 03 May 2024, 01:21 PM IST