MRF Posts 16% Surge in Net Profit to Rs 396 Crore in Q4, Revenue Climbs to Rs 6,349 Crore

MRF reported a 16% increase in Q4 net profit to Rs 396 crore, up from Rs 341 crore in Q4 FY23. Revenue for the quarter rose to Rs 6,349 crore from Rs 5,842 crore. For FY24, net profit surged to Rs 2,081 crore from Rs 769 crore in FY23, while revenue increased to Rs 25,169 crore from Rs 23,008 crore. The board has recommended a final dividend of Rs 1,941 per share. Shares closed 4.05% lower at Rs 1,28,499.65 on BSE.

Tyre maker MRF on Friday posted a 16 per cent increase in its consolidated net profit at Rs 396 crore for the fourth quarter ended March 2024.

The company had reported a net profit of Rs 341 crore for the January-March quarter of the preceding fiscal.

Revenue from operations rose to Rs 6,349 crore in the last fiscal as against Rs 5,842 crore in 2022-23.

For the entire financial year ended March 2024, the tyre maker said its net profit stood at Rs 2,081 crore as compared to Rs 769 crore in FY23.

Revenue from operations increased to Rs 25,169 crore in FY24 as compared to Rs 23,008 crore in FY23.

The company said its board has recommended a final dividend of Rs 1,941 per share of Rs 10 each.

The company has already paid two interim dividends of Rs 31 per share each time for the financial year ended March 2024.

The total dividend for the financial year ended March 2024 works out to Rs 2,001 per share of Rs 10 each.

Shares of the company closed 4.05 per cent down at Rs 1,28,499.65 apiece on the BSE on Friday.