MRF Q4 results: Net profit jumps 86% at Rs 313.5 cr; tyre firm declares dividend of Rs 169

Tyre manufacturing company MRF Limited on Wednesday reported an 86 per cent jump in consolidated net profit at Rs 313.5 crore for the quarter ending March 31, 2023. It reported consolidated net profit of Rs 168.5 crore in the year-ago period.

The company's board have announced a final dividend of Rs 169 (1,690 per cent on the face value of Rs 10 per share). The company, in a stock exchange filing, also said that along with two interim dividends of Rs 3 each per share already paid, works out to Rs 175 (1,750 per cent) per share of Rs 10 each for FY23. The record date and payment date for the dividend will be announced soon.

MRF’s consolidated revenue from core operations rose 10% to Rs 5,842 crore for the fourth quarter ended March 2023 as compared to Rs 5,305 crore a year ago. Other income of the company rose marginally to Rs 70 crore as against Rs 66 crore a year ago

After the results announcement, MRF Limited stock closed Wednesday trading session with a gain of 5.65% closing at Rs 93,600.