Tyre maker MRF reported an 7.6% year-on-year decline in its standalone net profit to Rs 379.6 crore for the quarter ended March 2024, compared to Rs 410.7 crore in the same period last year.
However, the company’s revenue from operations grew 8.6% to Rs 6,215.1 crore in Q4 FY24, up from Rs 5,725.4 crore in Q4 FY23, backed by higher sales volumes across product categories.
MRF’s operating profit or EBITDA (earnings before interest, tax, depreciation and amortization) increased 5% year-on-year to Rs 885.7 crore. But EBITDA margin contracted marginally to 14.3% from 14.7% in the year-ago period.
The Board of Directors have recommended a final dividend of Rs 194 (1940%) per share of Rs 10 each. The Company has already declared and paid two interim dividends of Rs 3 (30%) each per share for the financial year ended 31st March, 2024. The total dividend for the financial year ended 31st March 2024 works out to Rs 200 (2000%) per share of Rs 10 each.
As of 1:00 PM the shares of MRF were trading 4.37% lower at ₹128,051.00 on NSE.
