₹Tyre manufacturing company MRF Limited on Friday reported a 7.6% decline in net profit at ₹379.6 crore for the quarter ending March 31, 2024.
It reported consolidated net profit of ₹410.7 crore in the year-ago period.The company's board have announced a final dividend of ₹194 on the face value of ₹10 per share.
This will result in a total payout 1,940%, the company said.The company, in a regulatory filing, also said that it has already paid two interim dividends of ₹3 each per share for the financial year ended March 31, 2024.
Margin stood at 14.3%, compared to 14.7% on a year-to-year basis.Following the earnings announcement, shares of MRF Ltd. tumbled 4.15% to trade at1,28,309.30.
The stock fell 1% so far this year.
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Tyre manufacturing company MRF Limited on Friday reported a 7.6% decline in net profit at ₹379.6 crore for the quarter ending March 31, 2024. It reported consolidated net profit of ₹410.7 crore in the year-ago period.The company's board have announced a final dividend of ₹194 on the face value of ₹10 per share. This will result in a total payout 1,940%, the company said.The company, in a regulatory filing, also said that it has already paid two interim dividends of ₹3 each per share for the financial year ended March 31, 2024. The total dividend for the financial year 2024 works out to ₹200.However, MRF's revenue from core operations rose 8.6% to ₹6,215 crore for the fourth quarter, compared to ₹5,725 crore a year ago.The company's operating profit or EBITDA rose 5% to ₹885.7 crore in the quarter under review as against ₹843.1 crore in the corresponding period of last fiscal. Margin stood at 14.3%, compared to 14.7% on a year-to-year basis.Following the earnings announcement, shares of MRF Ltd. tumbled 4.15% to trade at1,28,309.30. The stock fell 1% so far this year.
